A.m. Best Radio Podcast

Insurance and technology experts gathered by AM Best TV at the WSIA Annual Marketplace in San Diego said insurers should use caution in deploying artificial intelligence-enabled technology or risk issues of privacy, risk management, and governance.

A panel of industry experts at the 2023 WSIA Annual Marketplace in San Diego discussed artificial intelligence, its use in the industry, how it will aid underwriters and its impact on work efficiency.

Dale Hoppe, Vice President of Workers' Compensation Programs at Nationwide Excess & Surplus/Specialty said the fluctuating and changing workplace dynamics is having an impact on the workers’ compensation market.  

Arthur Randolph, principal and consulting actuary, Pinnacle Actuarial Resources said that insurers writing homeowners’ policies in Florida face a myriad of challenges including surplus erosion.

Dan Landers, President and Chief Executive Officer of A.I.M. Mutual said the companies priorities are first, last and always their people.

Brady Kelley, executive director, WSIA, said this year’s conference drew more than 7,500 registrants, with the sector reporting $98 billion in premium for the previous year. Kelly spoke with AM Best TV at the WSIA Annual Marketplace in San Diego.

Richard Giller, partner, chair of Greenspoon Marder’s insurance recovery and counseling group, discusses implications of New York Jets’ Aaron Rodgers’ recent injury and athletes’ need for permanent disability and a loss of value rider.

CAC Specialty Health Care Executive Chairman Kevin Carnell discusses how current market conditions and rising severity of natural catastrophes are driving reinsurance capacity, pricing and coverage limitation challenges facing health care systems.

Tim Francis, enterprise cyber lead at Travelers, discusses a recent survey that shows for the ninth straight year, cyberthreats were among the top three concerns of the 1,200 companies surveyed.

Long-standing headwinds for commercial auto, including social and economic inflation, remain prevalent and impactful, said AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham.

Amid concerns about equity market volatility, investors are becoming more conservative and more interested in adding annuities to their portfolios, said John Carroll, LIMRA senior vice president and head of insurance and annuities - U.S. and Canada.

An insurance and technology professional reviews the issues shaping the industry's integration of artificial intelligence.

AI is changing risk selection, marketing and policyholder relations. Regulators are increasingly skeptical of insurers who can't explain how their own algorithms work.

Which jobs are at risk, and which have been enhanced in selling, underwriting, claims, asset management, operations and more? How can insurance professionals avoid occupational obsolescence?

What functions will be handled substantially by AI, and what insurance functions, if any, will AI never perform? What are insurers' best practices for integrating AI?

Christoph Nabholz, Swiss Re Institute chief research & sustainability officer and head of the research, engagement & sustainability team, discusses a company report examining emerging risk themes and trend spotlights facing the insurance industry.

P/C mutual insurers’ profitability struggled in 2022, despite considerable premium growth, said AM Best Financial Analyst Lauren Magro, referencing a new Best's Market Segment Report.

Zelros co-founder and CEO Damien Philippon discusses the benefits and growing use of generative artificial intelligence in insurance, including automation, risk assessment and helping to identify necessary coverages.

Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager for Wellington Management, shares the top trends he’s seeing across insurers of all sizes and types, views on inflation, and ideas on how to navigate 2024.

Arun Balakrishnan, CEO and co-founder of Xceedance, advocates a transformative approach for insurers.