Triple-I to Focus on Economy’s Impact on Insurance Performance

For immediate release
New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org

NEW YORK, April 28, 2021—To broaden its reputation as the go-to destination for the economic drivers impacting U.S. insurer financial performance, the Insurance Information Institute (Triple-I) is revamping the way it delivers impactful insights and analysis.

“Economic analysis is most actionable when translating the impact of economic drivers into specific industry variables and performance drivers. Our offering’s value-add is our deep knowledge of both insurance and economics rooted in over 60 years of research at the intersection of the insurance industry, academia, and government,” stated Dr. Michel Léonard, CBE, Vice President and Senior Economist, Triple-I. The Triple-I was founded in 1960 and its members account for about 50 percent of the total premium written today in the U.S. auto, home, and business insurance market.

The two flagships of the Triple-I’s new products are the Insurance Economics Dashboard and the Insurance Economics Quarterly Outlook. Targeting the Triple-I’s member companies as its initial audience, the Dashboard and Outlook will offer a unique approach to highlighting the relationship between economics and insurance performance. The insights incorporated into both products will shape the ways in which the insurance industry’s current and future economic performance is assessed, according to the Triple-I. 

The Dashboard is already available at the Triple-I’s members-only website. To illustrate the benefits of these new offerings, Sean Kevelighan, the Triple-I’s CEO, is joining Dr. Léonard on Wednesday, May 5, from 11 a.m. to noon, EDT, for a members-only briefing: Insurance Economics Outlook: 2021 Road Map and New insurance Economics Products. The Quarterly Outlook will be posted to the Triple-I’s members-only website on Thursday, May 6. 

The Dashboard’s ongoing updates will allow its insurance industry users to follow key economic reports (e.g., federal governmental updates on interest rate, unemployment, and housing trends) in real time, adjust forecasts, and recalibrate strategy. Each quarter, the Triple-I’s Outlook will be designed to provide a road map about which key economic reports will most impact insurance industry performance.

The state of the U.S. economy at any given time greatly impacts the financial performance of auto, home, and business insurers. Economic expansion often results in a growth in insurance premiums written in lines such as private passenger auto, homeowners, small business, and workers’ compensation whereas the opposite is the case amid an economic downturn.

Following the roll-out of these new economic products and services to Triple-I member companies, the Triple-I will expand its economic offerings to the media and the public through podcasts, blogs, webinars, and periodic roundtables with notable industry figures.

“Working together with our partners in the industry, government, and academia, the Triple-I will build and expand on its history of best-in-class economic research to deliver data and value-add driven insight that directly contributes to our industry’s success and its contribution to the wider economy,” Dr. Léonard concluded.

The Triple-I has a full library of educational videos on its YouTube Channel. Information about Triple-I mobile apps can be found here.