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Research + Data

Changing trends in auto insurance

Jim Lynch, I.I.I. Chief Actuary presented on October 5, 2017 for Auto Glass Week in West Palm Beach, Florida. The presentation discusses recent trends in auto insurance, including financial results and accident trends. Primarily, though, it focuses on the potential impact of autonomous vehicles on the insurance world.

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Disruption and Insurance

This PowerPoint report, “Disruption and insurance: Challenges and opportunities all along the value chain,” discusses the greatest threats and opportunities that are coming in the property/casualty insurance industry. According to the A.M. Best “Winter 2016-17 Insurance Industry Survey,” advanced analytics is named as the biggest opportunity, and insurtech as the biggest threat. Multiple disruptors to the industry are presented and analyzed, including technology/digitalization, alternative capital, loss control, peer-to-peer insurance, and others.

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Inflation watch - September 2017

By Steven Weisbart, Chief Economist
 

 

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Overview of the U.S. workers compensation system

On September 21, 2017, James Lynch, Chief Actuary of the I.I.I., gave this presentation on the U.S. insurance market and workers compensation insurance to 20 representatives from China, representing work safety regulators, including China’s State Administration of Work Safety. It provides a history of workers compensation coverage in the U.S. as well as a broad description of how it operates. The goal was to inform the representatives how the U.S. system works as China seeks to create a proper set of checks and balances to enhance worker safety.
 

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Trends, Challenges & Opportunities in the P/C Insurance In Industry 2017 and Beyond

Robert P. Hartwig, Ph.D., CPCU, Special Consultant to the I.I.I. presented to J.D. Power Insurance Advisory Board in Chicago, IL on June 29, 2017.

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2017 - Commentary on first half financial results

Highlights

From an underwriting profitability perspective, 2017 will likely turn out to be a tough year. The first half of 2017 produced a $4.5 billion underwriting loss. Although some of this is attributable to 2017:Q1 results, the second quarter of 2017 also produced an underwriting loss. And thanks mainly to Hurricanes Harvey and Irma, the third quarter will likely deliver a third straight quarter of underwriting losses, making it especially hard to end the year with an underwriting profit.

Inflation watch - August 2017

By Steven Weisbart, Chief Economist

 

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Insurance: Leading through disruption

This presentation, given by Insurance Information Institute CEO Sean Kevelighan, Chief Economist Steven Weisbart and Chief Actuary Jim Lynch, to the U.S. Department of the Treasury Federal Advisory Committee on Insurance (FACI), discusses the unique and strong position the insurance industry plays as a leader in the U.S. economy.

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Inflation watch - July 2017

Price increases relating to auto insurance property claims have been quite moderate recently. Prices for motor vehicle parts and equipment, which affect not only comprehensive and collision claims, but property damage liability as well, rose by 0.5 percent in July 2017 vs. July 2016.

 

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2017 - Commentary on first quarter financial results

For the property/casualty (P/C) insurance industry in the first quarter of 2017, the financial weather report (compared with 2016:Q1 and 2015:Q1) was cloudy with occasional bright spots. The clouds: higher CAT claims leading to a deteriorating combined ratio; and continued drop-off in investment yield resulting in a profit slump. The bright spots: stronger net written premium growth; and continued growth in policyholder’s surplus.

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