2022 ITL Yearly Wrap Up

ITL Six Things: 2022 Highlights

January 3, 2023

Why Underwriters Don’t Underwrite Much

The average underwriter spends 40% of their time on administrative tasks, 30% on negotiation and sales support and only 30% on actual underwriting.

Lemonade: No Sign of Disruption Yet

For each dollar of premium, claims cost Lemonade 90 cents, marketing cost it 60 cents and other costs added 40 cents. Feel a little betrayed?

Auto Claims and Collision Repair: The Great Reset

Barring another “black swan” event like the pandemic, the automotive ecosystem of 2030-2035 will be virtually unrecognizable from today.

Is Cyber Insurance on Brink of Collapse?

An industry that is too important to fail suffered claims of almost $7 billion in 2021 and now looks to take the lead in reducing client risk.

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How Smart COIs Can Revolutionize Insurance

Smart certificates of insurance eliminate risk, ensure compliance and reduce costs for every stakeholder in the process.

Insurers' Social Inflation Problem

In the face of aggressive action by plaintiffs attorneys, the insurance industry is steadily losing a battle it hasn’t really begun to even engage in.

The Staffing Crisis in Insurance

The Great Resignation is walloping insurance--65% of those who resigned from a job in the past two years left the industry entirely.

The End of the 9-to-5 Workday

As managers debate the future of remote work, the model of the 9-to-5 work day needs to adapt, too, and in some cases be eliminated.

Is Silicon Valley Passe?

An announcement by a prominent venture firm suggests we have reached peak Silicon Valley and, more broadly, are headed toward a more decentralized model for innovation.

What Happens When Insurance Truly Goes Digital?

As I've watched industry after industry go digital over the past 35 years, I've seen that the process looks a lot like the camera in your phone. I'll explain.

What Happened to the Insurtech Revolution?

Don't look now, but some of the big insurtech names -- Lemonade, Hippo, Oscar, Root and Metromile -- are having a rough go of it.

Is the Email Era Ending?

Email is based on an antiquated physical model (the inbox and outbox), and better ways of communicating -- even collaborating -- with customers are emerging.

An Interview with Mark Walls

Mark Walls, vice president, client engagement, at Safety National and long my go-to person on workers' comp, says the industry faces a major issue with staffing -- actually, two major issues.

An Interview with Joel Zwicker

"Many agencies will say, well, we have two policies per client, so we've done a really good job because the industry average is around 1.62. But if my agent only has two policies with me, he's left well over half my business on the table."

An Interview with Henry Gale

As part of this month’s ITL Focus on parametric insurance, we spoke with Henry Gale, parametric insurance research lead at Instech London, on the prospects for this increasingly popular approach to insurance.

An Interview with Nigel Walsh

As part of this month's ITL Focus on automation and RPA, we spoke with Nigel Walsh, managing director, insurance, at Google, about how far automation has progressed -- and about how to think about what comes next. Why automate a form or a process when you can simply eliminate it?

An Interview John Sviokla

As part of this month's ITL Focus on Claims, we spoke with John Sviokla,

An Interview With Chris Cheatham

The first round of insurtech appears to be over. The next round, in its formative stages, promises massive gains in efficiency, real-time quoting and binding, and more.