Distinguished Blog - Market Insights

Market insights and industry news.

2021 Insurance Market Insights: Part 2

In our previous article, we provided an overview of the hard insurance market cycle and what to expect in 2021. Here we will dive deeper into how COVID-19 is influencing the hard market in certain coverage lines.

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2021 Insurance Market Insights: Part 1

There has been a flurry of industry data released over the last month with all indicators pointing to an ongoing hard insurance market across all lines for all-sized businesses as insurers continue to address profitability issues as a result of rate inadequacy and increasing losses. Even Workers’ Compensation insurance, which has remained flat while other…

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The Future: Usage-Based Premiums and Smart Homes

Usage-based technology has been utilized for some time with auto insurance to track mileage and driving behaviors. You drive fewer than a certain number of miles and safely (no speeding, distracted driving, etc.), you get the benefit of premium discounts. Usage-based insurance (UBI) in this case is typically powered by in-vehicle telecommunication devices (telematics)—technology using…

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Adopting New Liability Risk-Mitigation Approach to Stem Mega Verdicts

Our litigious environment has been exacerbated over the last several years due to several factors including the rise of nuclear liability verdicts that run into the tens and even hundreds of millions of dollars. Contributing to these mega verdicts is anti-business sentiment and corporate mistrust by jurors. Juries feel more sympathetic toward injured plaintiffs and…

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Pandemic Adds to Potential D&O Risks

A recent report by Fitch Ratings indicates that among the insurance lines most impacted by potential COVID-19 losses are Directors and Officers (D&O) Liability, Employment Practices Liability (EPL), and Errors and Omissions (E&O) where allegations of negligence tied to poor loss prevention or preparation for a pandemic are possible.

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Branding Tips for Insurance Brokers

Building a brand is a powerful way to gain an edge over your competition. Your brand helps to establish why people should do business with or pay attention to you over someone else in your industry. And creating a successful brand doesn’t happen overnight. Extensive advertising and expansive marketing budgets are the norms among major…

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How Climate Change Impacts Severe Weather and Role of Insurers

Although it’s hard to pinpoint whether climate change intensified a particular weather event, the trajectory is clear — we’re experiencing hotter heat waves, drier droughts, and bigger storm surges – with scientists detecting a strong link between the planet’s warming and its changing weather patterns. With record-setting temperatures year after year, it’s likely that global…

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How COVID-19 Has Impacted the Insurance Talent Shortage

The insurance industry has been known for its talent shortage and its difficulty in attracting Millennials and now Generation Z as veteran employees retire. The industry over the years has undertaken various programs, campaigns, and career days at schools along with offering summer internships to highlight the many benefits and rewards of working as an…

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Email Campaign Ideas for Insurance Agents

Unlike other industries, the insurance industry serves people in their toughest moments. Building rapport with customers during better times is especially important for insurance companies for this reason.

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Sales and Marketing Blogs for Insurance Agents

There is always room for improvement when it comes to sales and marketing. As quarantine continues and agencies look for new ways to generate leads, industry insights, and thought leadership articles are crucial to staying on top of the ball.  With a quick Google search, tried and true insurance sales and marketing tactics are at…

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Email Marketing for Insurance Agents

There is a reason why your inbox seems perpetually packed: email marketing works. In fact, a study found that for every $1 spent, email has an average $38 return on investment. Even in the age of social media, email marketing continues to outperform other mediums in terms of conversions and lead generation.

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