Personal Lines

The excess and surplus insurance market is experiencing dynamic growth, creating major opportunities for insurtechs.

While embedded insurance may offer a quick solution, it lacks the personalized service and tailored coverage that independent agents can provide. 

Risk mitigation is no longer just a nice bonus but instead a critical aspect of a strong insurance application, and crucial to limiting premium increases.

Dr. Michel Léonard of the Insurance Information Institute discusses the current economic landscape and its impact on the insurance industry for the rest of 2024 and beyond. 

The future of the annuity business lies in leveraging digital technologies to enhance regulatory compliance, streamline operations and deliver superior customer experiences. 

Most forecasts are for 20 to 25 named storms, 10 to 12 hurricanes and four to six major hurricanes--all well above recent averages.

Forecasts of a "well above-average" 2024 Atlantic are a timely warning for insurers and companies with portfolios and assets at risk. 

With rates soaring and insurers pulling out of California, agents must double down on outreach, empathetic communication and client education.