Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.
New Year, New News
Welcome to the first InsuranceEdge of 2023!
This week, we look back at 2022 and explore what 2023 might have in store. Be sure to check out the insightful piece from Paul Carroll at Insurance Thought Leadership regarding digitization in the insurance sector.
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CA Auto Insurance on the Precipice of a Crisis
Insurers are struggling in California as more people are getting in accidents, and they haven’t been able to raise their rates in two years.
Read more at CNBN
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What Extreme Drought Has Exposed at Lake Mead
Sunken boats sitting high and dry on the horizon are now a hallmark of the lake’s new reality as it becomes a focal point in one of America’s most dire climate crises.
Read more at CNN
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2022 Catastrophe Losses
The global insurance industry is projected to see natural catastrophe losses of up to $112 billion in the wake of extreme weather events in 2022.
Read more at Insurance Business America
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The Latest Insurance Launches
Ford Credit announces plans to launch Ford Pro Insure; Lemonade announces the launch of Lemonade Car in Texas; SURE now writes excess and surplus lines in FL.
Read more at Carrier Management
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Some Surprises at Lemonade
For every dollar of premium sold, the company pays $1.60. And the churn rate for customers appears to be at least 30% to 40%.
Read more at Insurance Business America |
Allstate Commits to 2030 Net Zero Emissions Goal
In addition, the personal lines giant has set 2025 as the target year for achieving a net zero investment portfolio.
Read more at Carrier Management
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The United Kingdom's Warmest Year
The annual average temperature across Britain exceeded the previous high set in 2014, when the average was 9.88 degrees Celsius.
Read more at Insurance Journal |
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Million Dollar Fire Mitigation Project
The Colorado State Forest Service expects to thin hundreds of acres of dense forest near one of Colorado Springs Utilities' reservoirs.
Read more at The Gazette |
The Waves of Insurtech
The evolution of technology in any industry follows a similar pattern; we see a progression in the way an industry uses the tech at its disposal.
Read more at Insurance Journal
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A Wake-Up Call For Insurers
Fewer than 25% have truly digitized the value chain, while more than 10% are not appreciably leveraging digital technologies within their current business processes.
Read more at Insurance Thought Leadership |
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Uninsured Motorists: The Statistics
More than half of US states have passed laws and begun to develop and implement online auto insurance verification systems to identify uninsured motorists.
Read more at Insurance Information Institute
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