AM Best Audio

Roosevelt Mosley, Principal and Consulting Actuary with Pinnacle Actuarial Resources, said that from summary data, the company has the flexibility to add and use different characteristics of the road-level data to develop scores.

Karen Clark, co-founder, Karen Clark and Co., said that models can provide objective benchmarks rather than waiting for lengthy loss-reporting cycles.

Lightning claim totals dropped by almost two thirds in 2022 from 2020, and by nearly $500 million from 2021, said Dale Porfilio, chief insurance officer, Insurance Information Institute, and president, Insurance Research Council.

Samir Shah, CEO of Ledger Investing, said the casualty-focused insurance-linked securities sector is expected to grow.

Collaboration between insurers and regulators is key to better understanding the use of artificial intelligence and machine learning in the industry, said North Dakota Insurance Commissioner Jon Godfread.

ICMIF Chief Executive Shaun Tarbuck said he will soon retire, and in November 2024 hand the leadership torch to current ICMIF Executive Vice President Liz Green.

To improve resilience and mitigate risks such as geopolitical tension and natural catastrophes, business leaders must examine building locations and the impact of climate risk on those facilities, said Pentti Tofte, staff senior vice president, data analytics, FM Global. 

Cyber coverage far outpaces the rest of commercial insurance, said Sridhar Manyem, AM Best senior director, Industry Research & Public Relations, and Senior Industry Analyst, Christopher Graham.

Rahul Khanna, global head of Marine Risk Consulting, Allianz, details the findings of a new report that shows the number of vessel losses was down 36% in 2022 and has decreased by 65% over a 10-year period.

Thomas Holzheu, chief economist Americas, Swiss Re Institute, said that closing global protection gaps for natural catastrophes, crop, health insurance and mortality would require a record high $1.8 trillion in annual insurance premiums—a cumulative 20% rise since 2018.

Tony Fenton, vice president of commercial lines, underwriting and product at Nationwide, discusses a new company survey that shows small and medium market business owners are increasingly worried about U.S. economic conditions

Dave North, executive chairman, Sedgwick, said one element of the firm's growth has been customizing programs that create better relationships between claimants and risk-takers.

Brian Wilson, vice president, Special Investigations Unit, QBE North America, and Dan Gumpright, EVP, Product and Operations at DetectSystem, explain that insurers have kept up with tech-savvy fraudsters by deploying artificial intelligence to address a range of bogus schemes.  

Dianne Greene, Verisk's global head of Diversity, Equity and Inclusion, explains how qualitative data is helping to build trust as insurers broaden their programs and initiatives.

Shane Riedman, vice president and general manager of anti-fraud analytics for Verisk Claims Solutions discusses the findings of a new study on insurance fraud that shows the crime is perceived differently compared to other types of financial fraud.