For carriers looking to improve their identity verification ability, one-time passwords and password-free authentication are additional layers that can be added to the multi-factor authentication solutions that they’re likely already using.
A Nationwide survey confirmed that business owner customers want a fast and easy experience and prefer to work with knowledgeable agents and insurers while benefiting from the tech advances aiding claims.
Predicting some specific risks such as ransomware or climate change disruptions may be easier than others and regulators are expecting companies to show they are prepared for them.
The four issues they were most excited about were new products and services; automation and the use of AI for improving underwriting performance; new data sources; and ESG considerations.
With the excess and surplus market set to undergo transformative growth over the next decade, brokers and insurers are faced with a host of new challenges and opportunities.
November 13th marked the 20th anniversary of Allied World’s launch in Bermuda. What started as a single line, high excess P&C carrier, is now a global player, offering multiple lines, with 21 offices worldwide, over 1,400 employees and more than $5 billion in gross written premium.