Published: May 2021

The Greening of Insurance Asset Management

AM Best TV & Audio: Severe Weather Across US Could Trigger Record First-Quarter Catastrophe Claims: Also, industry professionals discuss the value of automating underwriting and compromising on insurance policy.

AM Best Webinars: The Future of Claims and Customer-Centered Technology in Commercial Insurance: Professionals discuss how identity management tools can protect against fraud and better roofing can reduce home insurance losses.

App Store: App Enables Life Insurance Agents to Sell Policies Anytime, Anywhere: IXN Tech CEO Kevin Pohmer discusses the history and hurdles behind the company’s new mobile app for life insurance quotes.

Asia-Pacific: Hong Kong Insurance Regulator Launches Groupwide Supervision Rule: Rules first proposed in December 2020 have been approved and put into place with the hope of luring large insurers to the region.

At Large: Narrow Artificial Intelligence Is Latest Disrupter to Insurance Industry: NAI, just like the Industrial Revolution, is going to result in new government programs, as well as new theories of contract law and injury law.

Book Store: Author Experiences Firsthand the Difference Insurance Can Make: Grace Vandecruze’s book is designed to help others reach financial security, including having adequate protection.

Corporate Changes: Corporate Acquisitions, Name Changes and State Actions: Indy Health, Georgia Casualty & Surety among the life/health and property/casualty insurers in the United States that have experienced a corporate change.

Emerging Leaders: AM Best’s Inaugural Student Challenge Leads to Innovative Solutions for Catastrophe Risk: This year’s winning team created a parametric insurance solution that helps families during emergency evacuations.

Emerging Leaders: Competitions for Students of Insurance and Risk Management: A look at some of the industry-sponsored challenges available to insurance and risk management college and graduate school students.

Emerging Leaders: Insurance Will Remain Relationship-Focused, Even With COVID-Inspired Tech Advances: Improvements to claims handling, underwriting and policy origination forge customer connections at every level, said AM Best’s Matthew C. Mosher.

Emerging Leaders: Progressive CEO: Insurance Industry Needs Proven Risk Rating Metrics and More-Affordable Products: Tricia Griffith also said risk-based pricing should be bifurcated from discussions about affordability.

Executive Changes: Progressive Chief Marketing Officer, Responsible for Flo/Superstore and Dr. Rick Campaigns, to Retire: Jeff Charney, slated to leave in 2022, created an award-winning internal creative shop during his tenure. Also, at Beazley plc Adrian Cox succeeds CEO Andrew Horton, who is headed to QBE, and Ryan Specialty Group expands leadership team.

From the Editor's Desk: Regulators and Activists Increase Pressure to Incorporate ESG in All Areas of Insurance: This issue also includes a look at AM Best’s first Student Challenge and a listing of the largest insurers in the Asia-Pacific region.

Industry Updates: Amid Move Toward More Disclosure of ESG Risks, Insurers Begin to Realign Talent, Structures: AM Best: Increased legislative and regulatory emphasis on climate risk will prompt U.S. insurers and reinsurers to accelerate their ESG efforts.

Industry Updates: ‘Difficult Conversations’ About Race at NAIC Meeting: The group will identify diversity, equity and inclusion best practices and address questions over the use of third-party data.

Insurance Marketing: Getting Noticed: Unleashing the Power of Search Engine Optimization: Insurers are turning to SEO to gain visibility and build brand awareness, but an expert says success begins by first mapping out a strategy that focuses on content and meeting customer needs.

Life Insurance: Life Insurers Ponder How to Underwrite COVID-19 Survivors: Options range from the most severe—refusing to extend coverage—to treating the virus like cancer, respiratory illnesses and other conditions that must be disclosed when applying for life insurance.

Next Wave: What I, a True Introvert, Have Missed Most About Office Life: Working from home certainly has its advantages, but it can’t replace the benefits of in-person relationships or contemplative time spent while commuting.

Risk Adviser: Emerging Litigation Targets Arsenic in Baby Food: Droughts caused by climate change have elevated the amount of heavy metals found in rice. Insurers must help clients manage this risk.

Technology: Ripples From Software M&A Can Buffet Insurers: Selecting a software solution is a long-term business commitment. That’s why understanding a vendor’s footing in the M&A market is essential.

Technology: The (Opt) Ins and Outs of Embedded Finance: Piggybacking is an effective way to reduce customer acquisition costs, but picking the right strategy and partner is a critical first step.

The Greening of Insurance Asset Management: AM Best Becomes Signatory to the ESG-Related Principles for Sustainable Insurance: AM Best is the first credit rating agency to make this commitment.

The Greening of Insurance Asset Management: Beware the Sirens of Environmental, Social and Governance Investing: Boosting ESG without understanding and carefully considering who stakeholders are, what they expect and how their potential disappointment might be expressed is a tactical path to a reputational liability.

The Greening of Insurance Asset Management: Smaller and Midsized Insurers Negotiate a Complex Investment Landscape: Not all insurers have the resources to deploy across a range of investment opportunities designed to address changing standards and expectations. Insurance and investment experts explore how insurers of all sizes can better meet emerging guidelines without sacrificing business objectives.

The Greening of Insurance Asset Management: The Changing Relationship Between Asset Management, Values-Based Investing and Diversity and Inclusion: More-demanding expectations are affecting how insurers, regulators and investors view personnel, investments and corporate transparency.

The Greening of Insurance Asset Management: The Push for Responsible Investing: From the United Nations to nations and states, regulators and representatives are aligning investing standards with concerns about climate risk and social responsibility. Insurance and asset management experts explore emerging standards and expectations, along with the strategies and products designed to lower the stress of complying.

The Last Word: High Honors: The Insurance Library Names Quincy Mutual CEO Its Insurance Professional of the Year: K. Douglas Briggs discusses the prestigious award and how the Library’s mission continues in the face of the COVID-19 pandemic.

Trending: Best's Research: Trending Research Includes Market Segment Reports on P/C and Life/Annuity Industries: AM Best also comments on the London and Bermuda markets, the US title industry and rejoining the Paris Agreement.

What AM Best Says: AM Best: The Role and Importance of MGAs and Other, Similar Underwriting Enterprises Have Grown in Recent Years: Insurers are increasingly using distribution partners called delegated underwriting authority enterprises.