Six Things: April 26th, 2022

How You, Too, Could Afford to Buy Twitter. Plus, new conclusions for P&C insurers: Ukraine invasion's potential impacts; and more

Insurance Thought Leadership

April 26, 2022

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Insurance Thought Leadership
Note from the editor:

We've had great feedback on some recent webinars we've hosted, as part of our efforts to help the ITL community drive innovation in risk management and insurance. I encourage you to check out our array of webinars. And please let us know here if we can ever help you get the word out about how you're reshaping our crucially important industry.

How You, Too, Could Afford to Buy Twitter

Paul Carroll, Editor-in-Chief of ITL

If you look at the wealth that Elon Musk has built through Tesla and that is financing his whimsical bid for Twitter, his fortune is a bet on the future. Tesla has only about 1% of the global car market. Its profits for the past three years have totaled about $5.5 billion -- much of that dependent on government subsidies for purchases of electric vehicles. Yet Tesla commands a market value north of $1 trillion and provides the bulk of Musk's $260 billion personal net worth because the market sees enormous potential for electric vehicles, in general, and Tesla, in particular.

Can we get the market to sprinkle some of that fairy dust based on potential on us, too? In a word, yes.

Insurers surely won't generate the shovelfuls that Musk has managed to heap on Tesla, but insurers can create much better narratives for investors if they start playing offense, and not just defense, on the issue that has carried Tesla and Musk to such heights: how the world can get to net-zero on emissions of greenhouse gases.

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Podcast Alert

Join Denise Garth for a new podcast featuring Deloitte's Abhishek Bakre, Senior Manager of Strategy and Santosh Kutty, Principal, to discuss changing customer demographics, absence management, and bundling with disability and leave products.

Listen Now

SIX THINGS

Can Insurers Use AI to Retain Staff?
by Tom Warden

Technology can tip the scales back in favor of a healthy workforce, driving growth and innovation as well as preserving institutional knowledge.

Specialization: Agents' Vast Growth Opportunity
by Joel Zwicker

There is a huge range of opportunities that are still untapped, just waiting for creative, research-driven, passionate agents to capitalize on.

The Future of Work

Wednesday, May 4th at 1:00 pm EDT
Sponsored by JobsOhio

As employees start to return to work after two years of mostly working remotely, smart employers are rethinking just about all aspects of how work is done to get the best of both the home and office worlds.

Register Today

New Conclusions for P&C Insurers
by Denise Garth

The customers want to drive. Are insurers prepared to thrive once we’ve handed them the keys?

Read More

Reinsurers Face New Challenges
by Steven Kaye

Emerging risks affecting the reinsurance business present opportunities for analytics and predictive modeling.

Excess & Surplus Lines Market Hardens Further
by Brian Brown Travis Grulkowski Zach Ballweg

At this point, we believe that the hard U.S. E&S market will not end any time soon; however, some companies will struggle with prior year reserving issues.

Read More

Ukraine Invasion's Potential Impacts
by Anton Lavrenko

The invasion poses a complex threat to the operations of financial services companies and has enormous consequences for the financial markets in the short term.

Read More

Winning the War for Talent

Thursday, April, 28th at 1 pm EDT
Sponsored by PwC

This webinar tackles a key issue -- maybe the key issue -- facing the insurance industry: How can we attract, train and retain the talent that we need and that the industry's mission merits.

Watch Now

MORE FROM ITL

April Focus: Automation and RPA

Sometimes, innovation takes time.

Some 30 years ago, I wrote an article for the front page of the second section of the Wall Street Journal that declared a revolution in forms. We were far enough along in the personal computer revolution that software companies were coming out with products that would let users fill out forms on-screen, speeding the process and eliminating the errors that occurred as someone had to interpret people's handwriting. Even more magical, the spread of local area networks meant that information could flow straight from my screen into a corporate database, with no never to ever print the form and have someone re-enter the data. .

Everything I wrote was correct, and forms did take a major step forward, but, here we are three decades later, still drowning in forms. And the insurance industry is Exhibit A.