The most interesting takeaway for me is a stat from report that indicates that "This decade has already experienced five of the highest six years in terms of overall billion-dollar-plus claims events (after adjusting for inflation) in the history of the industry." Clearly, higher claim volumes and severity are here to stay. The challenge for the entire ecosystem is to continue to improve claim efficiency and accuracy to ensure our industry stays healthy.
Kevin Abell’s Post
More Relevant Posts
-
WTW experts discuss insurance trends across a range of industries, markets and regions in our latest Global Marketplace Insights video https://lnkd.in/eBd4eE8A #InsuranceIndustry #WTWPerspective
Global Marketplace Insights Q2 2024
wtwco.com
-
Provide support and insights related to managing Risk & Human Capital, Total Rewards/Compensation - former Nashville Health Care Council Board Member - Founder of Women NOW - 2019 Women of Influence recipient
Quick fact -- U.S. property insurance rates continued their upward trend for another quarter! That makes 25 straight quarters of increase, although there's optimism as future increases are projected to taper off, which I clearly heard during my recent meeting with Lloyd’s underwriters. Reach out if you want to discuss how international capacity may provide more capacity and stability. Check out Lockton s Market Update for more key insights:
Unlock the Keys to the Market!
global.lockton.com
-
How can insurers adapt to the rapid pace of change? Find out in the article below ⬇️
2025 global insurance outlook
deloitte.smh.re
-
Exciting news on the horizon! It looks like we're in for smoother sailing during upcoming commercial insurance renewals. 🚀 And there might just be a shift coming for the overall tune of the U.S. marketplace. Check it all out below… The Lockton Market Update is here! #InsuranceInsights #MarketShifts 📈🔍
Tap to Unlock Insights Now!
global.lockton.com
-
In 2023, the global market for Insurance Analytics was valued at approximately $12.7 billion, and it is anticipated to expand to $33.3 billion by 2030, experiencing a compound annual growth rate of 14.8% from 2023 to 2030. This thorough report offers a detailed examination of market dynamics, influencing factors, and future projections, enabling you to make well-informed business choices. https://buff.ly/3Cfkm45 #insuranceindustry #underwriting
Insurance Analytics Market Report 2024-2030 - Why Insurers are Rushing to Embrace Analytics: Boost Underwriting, Fight Fraud, and Meet Growing Customer Demands
-
Gain insight into current coverage and pricing trends, check out the USI 2024 P&C Market Outlook Mid-Year Addendum.
2024 Commercial P&C Market Outlook Mid-Year Addendum
usi.com
-
Driven by protecting your people, property, and reputation. Strategic People Solutions & Risk Consultant. Father. Husband.
Are we at a Tipping point on Commercial Insurance ? Despite continuing to face social inflation and climate change, commercial insurers are coming off one of the best earnings seasons in recent memory. Commercial buyers should expect more stability during their annual renewals and the market could be at a tipping point toward greater predictability. The challenge – and opportunity – for buyers is to think strategically by asking hard questions, including about why they are buying insurance and how much risk and volatility they are willing to keep on their balance sheets. Likewise, they should be more broadly scoping the markets to search for competitive advantage. Lockton can certainly help if you feel this is missing I your purchasing strategy. Read more in Lockton’s recent market update. https://lnkd.in/gM6KgFGU
Lockton Market Update | Lockton
global.lockton.com
-
🔍 Discover key trends in the insurance market with the latest @Lockton Market Update. Insurers are watching key developments—what does this mean for your organization in 2025? Read it here: https://lnkd.in/deMVAwYe Mark Moitoso, Vincent J. Gaffigan Fantastic update, as usual.
https://lnkd.in/gb9EhpiB ➡️ Although insurers have demonstrated strong earnings and results are predictable for buyers across many lines, a sense of fragility lingers for both the U.S. economy and the commercial insurance market. Explore our December Lockton Market Update for more insights on the market and how to better manage risk in 2025.
-
-
What’s in store for 2025? See the latest Lockton Market Update for insights into current insurance industry and macroeconomic trends.
https://lnkd.in/gb9EhpiB ➡️ Although insurers have demonstrated strong earnings and results are predictable for buyers across many lines, a sense of fragility lingers for both the U.S. economy and the commercial insurance market. Explore our December Lockton Market Update for more insights on the market and how to better manage risk in 2025.
-
-
Vice President - National Risk Practice Leader Product Recall / Accidental Contamination
Check out Lockton’s Market update below
https://lnkd.in/gb9EhpiB ➡️ Although insurers have demonstrated strong earnings and results are predictable for buyers across many lines, a sense of fragility lingers for both the U.S. economy and the commercial insurance market. Explore our December Lockton Market Update for more insights on the market and how to better manage risk in 2025.
-
