Attend this 411 webinar to learn how the Property/Casualty Compensation Survey will empower your company to update and improve its compensation plans and better compete for top talent. Kaitlyn Isley of McLagan, NAMIC’s partner in this initiative, will provide an overview of survey’s data points and deliverables. She will also offer data-collection tips and show you how to get the most out of the 2020 survey.
Gain insights into the latest claims trends in the property/casualty industry during this webinar. Jeff Rieder, a partner at Ward Group, will review results from the 2020 NAMIC Claims Practices/Productivity & Innovation Survey, which was highlighted NAMIC’s recent Claims Conference, and reveal how insurance companies are adapting to growing challenges in claims operations.
Share your insights, gather valuable information on current issues and learn more about industry trends at this annual two day event designed for mid-to senior-level underwriters, managers, and executives. With informative presentations from insurance industry experts and consultants, numerous networking opportunities, and easy access to commercial lines service providers, you don’t want to miss this leading industry event.
In the wake of high-profile investigations of certain institutions into the alleged concealment of child sex abuse or other abusive conduct, various states have passed or proposed passage of so-called "reviver statutes", which establish a "look back window" in which lawsuits can be filed that would otherwise be barred by a statute of limitations. Recently, "reviver statutes" have become a favored method for permitting victims of sexual abuse to assert claims based upon abuse that occurred many years ago against bad actors or the organizations that allegedly harbored, employed or supervised them. This session will discuss reviver statute developments, the claims and litigation activity in various states that have opened “look back” windows, and the potential insurance exposures that arise from legislation of this kind.
This course will dive deep into how to read, understand, and analyze the financial statements necessary to run a successful mutual insurance company. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.
Join the most powerful and productive event of the year exclusively for CEOs of member primary insurance companies. Here you will gather in small groups to share and gather strategic insight, ideas, and foster connections with your peers. CEOs tell us this is one of the most valuable events they attend each year.
Learn about the wealth of insurance industry-related information NAMIC’s online resource centers have to offer. If you are curious about topics such as corporate governance, compliance, reinsurance, and strategic planning, the first portion of this webinar will provide a brief overview of the resources you can access as a NAMIC member. The second portion will provide an in-depth tour of the Cybersecurity Resource Center, the most-recent addition to NAMIC’s online libraries.
This session will provide an overall economic outlook of the property/casualty insurance industry. This session will include a high-level look at industry trends and disrupters. The always-popular Robert Hartwig, Ph.D., will provide important insights that will help you manage your company’s risk.
Busy professionals are buried under a continuing stream of useful and useless email. Without a system for getting “control of the beast,” professionals spend much of their work – and personal – time spinning their wheels. If you would like to get control of your email “beast,” you should attend this program led by Randy Dean, author of the Amazon bestseller “Taming the Email Beast.” Randy shares strategies for effective email management, organization, and prioritization that have helped thousands of business professionals regain control and sanity with their email activities Enhance your email productivity and efficiency with today by walking away with immediately usable tips and techniques.
Mild traumatic brain injuries are frequently seen in litigation. This session will explain the categories of TBI and review the medical prognosis as outlined in the research literature. It will also provide suggestions on how to evaluate and document TBI claims as well as how to spot red flags.
Transformational technologies, including machine learning, chatbots, document intelligence, data prefill, aerial imagery, new user interfaces, and advanced analytics, are drastically changing the role of the underwriter and creating incredible opportunities for improved speed, precision, and insight for underwriting decisioning. Join this session to hear more about this tremendous shift and hear use cases of insurers that are benefitting from AI in underwriting today.
This course will explore the role of the board regarding oversight of a company’s readiness for a cyber breach. This webinar qualifies for one FMDC elective or maintenance credit in the Operations & Insurance module.
Claims is likely the area of the property/casualty insurance business destined for the most transformation. The digitally connected world has generated new customer demands, new digital content, new and expanding ecosystems, and the need to operate in a real-time world. This session will explore how new insurance products, new opportunities for partnerships and technologies such as drones, machine learning, chatbots, robotic process automation, and the internet of things are creating significant implications for claims. It will also outline the limitations of approaching claims transformation from the traditional inside-out perspective and discuss the new lens insurers are using to achieve optimal outcomes.
Customer experience is an essential component of a transformational journey and is interwoven throughout Strategy Meets Action’s three transformational areas for property/casualty insurers: digital business, foundational technologies, and transformational technologies. Customer experience is an organizational journey that begins with “flipping the lens” from the traditional inside-out, customer-service driven focus to an outside-in, empathy-driven customer experience focus. Join this session to understand the eight critical areas to address in your customer experience transformation. Deb Smallwood will share SMA's latest research on customer experience investment, maturity, and adoption; highlight use cases; and conclude with a call to action.
Workplace violence is tragic, but it’s real. Does insurance have a role with education, crisis management, and helping victims in their times of need? Join this session as the presenter look at this topic through the lens of the insurance industry and how it can play an integral part.
Courts around the country are increasingly interpreting insurance policies and reviewing bad faith claims against carriers with one of two approaches: one favoring insureds and policyholders, and one favoring insurance companies. Insurance policy provisions may be interpreted on a literal textual basis, which often favors insureds, or on a functional basis, which often favors insurers. Some states allow a relatively low evidentiary threshold for bad faith claims, with generous discovery of an insurer’s claims files and other materials. On the other hand, some states make it more difficult to pursue a bad faith claim against a carrier, often with limited discovery. Mr. Young will address both of these approaches to insurance policy interpretation and bad faith claims and will provide practical suggestions for how insurance companies can navigate these difficult issues in their claims handling.
Having a solid foundation of reinsurance knowledge is important for all kinds of insurance professionals. During this session, Molly Fogarty will cover what reinsurance is and the various types available. She will outline key functions and how companies benefit from purchasing reinsurance. Because the landscape of reinsurance is always evolving, she will also provide a current view of the reinsurance marketplace and how it has evolved over time.
You want your agency partners to push your insurance products instead of your competitors’. Co-branded marketing is a great way to help with that. However, when left to their own devices, not all agents know how to use the most effective marketing channels or keep brand consistency. This session focuses on how you can overcome those challenges to keep cohesive, centralized marketing and arm your agents with marketing campaigns that truly resonate.
Personal Lines Seminar is an informative exchange designed to energize, inform, and empower professionals from property/casualty insurance companies working in the personal lines underwriting, business marketing, and product development space. Upshift your education with sessions focused on emerging issues, industry trends, and professional development topics.
In recent years, the cyber insurance loss landscape has been radically transformed. Changes in technology, regulation, and criminal behavior have given rise to new loss trends. Loss experience has been transformed from breaches of personal information to new major loss drivers like ransomware and fraud. This presentation we will share loss examples that demonstrate and illuminate these trends and will also explore how these loss trends are driving underwriting changes related to pricing, coverage breadth and risk appetite.
Market expectations are changing rapidly, and nearly every carrier is pursuing digital underwriting in some capacity. However, this journey is fraught with challenges, including where to start, how to manage change, and your bottom line, your ability to grow, and your customers’ experiences. Join this session to learn about a carrier's journey to digitize its commercial underwriting process and what that means for its agents, customers, and business going forward.
Recent company results reflect an ominous trend: more “nuclear” verdicts, inflated settlement amounts, and concern that juries have become increasingly unpredictable. Some commentators have suggested this trend indicates a return to social inflation. While social inflation was seen in the 1980s and 1990s, something feels different this time. This session will provide a working definition of social inflation, give detail as to the unique components driving this trend, and make suggestions as to what can be done to combat it.
Creating engaging content can be very challenging. But the content you share can leave powerful impressions with your audience. Come learn a few simple ways to help develop meaningful content for your digital presence. This webinar will also include testing examples and helpful resources.
The use of advanced analytics such as predictive modeling has been part of insurance rating for a few decades, but recently insurers have begun to realize that significant operational and customer experience benefits could also be gained in their claims operations by applying advanced analytics and insurtech. In addition, while tried and true, traditional claims reserving methods are being re-evaluated in light of the power that additional data and advanced analytics can provide. This session will dive deeper into such uses as individual claims reserving and other applications that can be of great benefit to insurers in their claims operations.
With Bootcamp 2.0, we offer directors the opportunity to immerse themselves in the world of corporate governance within the insurance industry. Whether your board is new to governing, new to insurance, or just needs a refresher, Directors’ Bootcamp 2.0 is an investment you can make in your company’s futures. In this two-day interactive seminar, your board members will gain the tools and the knowledge they need to effectively govern within the mutual insurance industry.
The past two years have seen growth in personal cyber coverage offerings and claims. Once thought of as only for high-net-worth clients, this coverage is now becoming more mainstream. Historically speaking, personal cyber risks were thought of as only identity theft. But as risks increase, there is a market for personal cyber coverage for matters such as ransom, anti-bullying, social engineering, and third-party liability. Handling these types of claims are uniquely different from commercial cyber claims. The types of vendors required are different, the level of interaction is considerable, and the policyholder may not be as sophisticated when it comes to computer systems. Attendees of this session will learn how to handle the unique differences of personal cyber insurance.
Recent company results reflect some ominous trends – more “nuclear” verdicts, inflated settlement amounts, and concern that juries have become increasingly unpredictable. While research into these trends is ongoing, what is clear is that a several economic and sociological factors – some of which are unprecedented – are causing these results. This session will explore the factors and provide suggestions as to how the insurance industry might want to respond.
These days, customers expect a customer experience that’s personalized and on demand. How do insurance companies cultivate deeply connected – and profitable – experiences for customers without giving away too much? How do agents provide a tailored experience without getting crushed by the burden of client engagement? The questions can be overwhelming, but there is good news. You already have everything you need to keep your clients and the solution doesn’t require expensive technology. During this interactive session, customer experience expert and bestselling author of “Keep Your Customers” Ali Cudby will help attendees develop simple steps that deliver long-term, lucrative loyalty.
Effective quality assurance programs help insurance carriers drive claims quality and company-wide improvements. But with so many parties involved in the claims lifecycle, it can be difficult for insurers to isolate, measure, and improve key issues throughout the life of a claim. Driving quality is especially difficult across multiple teams, departments, locations, and quarters. Before building a new or revamped quality program, insurers must thoughtfully map out the goals, logistics, budget, and stakeholders. This session will discuss six essential questions insurers should ask before implementing a modern, company-wide claims quality process.
With the continued activity of state laws addressing the commercialization of marijuana and its use as well as the passage of the 2018 Farm Act by Congress, which partly changed some restrictions regarding industrial hemp, two new markets may be emerging in the United States. This webinar will explore the risks and uncertainties in these markets and highlight new exposures insurers may face.
This course will examine methods to keep strategic planning moving forward. This webinar qualifies for one FMDC elective or maintenance credit in the Management module.
The combined ratio for commercial auto in the United States continues its negative trend and will likely worsen, especially in light of increases in the number of vehicles and total miles driven as well as the influx of new inexperienced commercial drivers. How, then, can insurers tackle this profitability problem? Telematics data and road-risk information offer a path by benchmarking how drivers and fleets are performing and identifying those at risk and trends that can be predictive of losses. This session will probe the implementation of telematics, the effect of driving data on underwriting, and how insurers, agents, and fleet clients can all benefit from a data-driven approach to risk reduction.
A refresher class on reinsurance, this webinar will touch on the key elements of a reinsurance transaction. It will explain what data is required for most reinsurance placements, assess how actuaries and catastrophe modelers analyze the data and the output they produce, and review how the information is marketed to reinsurers.
Farm Mutual Forum is an annual gathering of small and midsize mutual insurance professionals. At Forum, you will find networking opportunities, peer-to-peer learning, and technical and strategic educational sessions that encompass the aspects of running and working with farm mutual companies.
Join Marc Kreiter of Forecast Systems as he explores a different method developed for handling claims. By avoiding prejudgment and preconception in the assignment of facts-to-element, strategies can lead to the development of unbalanced information. This strategy can provide a clear advantage throughout the entire claims process. The resulting contextual shift may illuminate a new standard for the resolution of the claim – as when the causal link between event and damage requires expert opinion, the motivated bias ignores relevant and material data to its proponent’s peril. The goal is to discover asymmetrical data made of facts and fact patterns that may lay beyond the scope of your opponent’s strategy, tactics, and even expert testimony. In this session, attendees will learn how the motivated confirmation bias is affecting the handling of injury claims.
What exactly do existing standardized insurance forms really say about coverage for cannabis? Is it covered property under most policies? Is the insurer on the hook for liability stemming from an insured providing someone else cannabis? This session will analyze some of the most common lines of insurance and discuss existing case law related to cannabis claims.
This session will discuss the evolution of the reinsurance market as it pertains to mutual insurance companies and will show a prospective look as to where it may go. Attendees will learn how mutual companies principally accessed and used reinsurance in the past. They will also learn about the current state of the reinsurance market for mutuals; how expansion of product and market participants has made it easier for mutuals to access reinsurance capital to support their business needs; and the ways in which reinsurers are looking to maintain relevance and support the mutual business model by developing additional products and services to augment the value their risk capital provides in the future. This session will also touch on mutual company reinsurance buying trends and how the use of enhanced data and technology has made the process of transferring risk more strategic and bespoke for individual companies.
This session will focus on terpenes and cannabinoids, two of a cannabis plant’s major chemical components. Terpenes provide the aroma and flavor of the cannabis plant while cannabinoids act on the human endocannabinoid system in a variety of ways. This session will explain both chemical components so that insurers might better understand the contents of the cannabis plant and the product liability risks associated with it.
During this session, Kevin Rall will discuss how other industries are setting new expectations for customer experience, how the insurance industry is responding, and how disruptors and innovators in insurance are leveraging technology to establish new market expectations for prospects, policyholders, claimants, and agents. Specific examples that highlight how new technologies and the rethinking of processes and products are changing the insurance experience will be shared. Kevin will review the most promising emerging and traditional technologies and highlight some best practices for creating and sustaining an awareness of customer experience and expectations.
The auto claims industry is seeing many disruptors that are significantly changing how claims are handled. During this session, Ernst & Young claims advisory consultants Michael Curcio and Jim Kremer will discuss trends and disruptions specific to the auto physical damage/material damage industry, such as advancements in vehicle technology and construction, collision repair industry consolidation, virtual appraisal handling, and artificial intelligence. They will also provide key impacts that these changes are having on the industry, what carriers should focus on to take advantage of known disruptions, and information regarding forecasts of emerging disruptors that the industry should be preparing for.
Litigation is an expensive way to conclude losses, both in terms of money and time. During this session, the presenter will discuss alternative dispute resolution processes that claims professionals can employ to conclude cases more quickly and at less expense. It will include an in-depth discussion of mediation and arbitration as resolution techniques, including steps claims professionals should take to ensure success when one of these options is selected.
“No one wants a drill. What they want is the hole.” - Manhattan Mutual Life advertisement, 1946. Insurance perennially ranks poorly in customer satisfaction when compared to other industries. In the case of home insurance, the underlying need is for shelter, but traditional home insurance merely provides funds after damage to shelter. In this session, attendees will learn how newer insurtechs leverage sensors in a connected-home environment to evolve the customer experience from salvaging a broken home to subscribing to preventive maintenance.
Subrogation has long been a critical component of the loss adjustment process, but the aggressive pursuit of it has become increasingly important in the ever-changing insurance environment. Join this session for a review of best practices and fresh ideas for this critical component of the claims profession. Learn how to retrain yourself and your team to think about subrogation first. Attendees will also review tactics to manage subrogation costs.
This course will provide insight into industry performance metrics to help board members understand the numbers behind financial and operational performance. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.
Insurance customer behaviors are changing. Can your customers find you? Are you making it easy for them to do business with you? This session will discuss how to use digital marketing, personal relationships, and fun to grow quality business that will benefit your mutual’s bottom line.
One of the most frightening aspects of insuring cannabis-related businesses is the product liability exposure. While there have been virtually no product liability claims related to cannabis consumption, there’s a first time for everything, and the insurance industry needs to be ready. Join this webinar to hear Brenda Wells, an insurance expert, and Melissa Roeder, a product liability defense attorney, discuss the products liability risks associated with cannabis.
Cyber is hitting closer to home more than ever before. The interconnectivity of technology at home and on the farm has made us all potential targets. Join this session to discuss the risks and threats in today’s world, learn about ways to keep your family safe online, and discuss the protections the insurance community can provide policyholders. A variety of industry professionals will be involved in this session to give unique perspectives on the threats families and farm owners currently face.
Under The Centers for Medicare & Medicaid Services’ Commercial Repayment Center policy, Medicare is aggressively pursuing conditional payment recovery before settlement on certain claims. The U.S. Treasury Department has also increased recovery efforts. Lastly, minimum advertised prices are aggressively pursuing claims payers for lien reimbursement and double damages. This session examines claims strategies to stay compliant and minimize risk.
If your mutual is just getting started in the social media experience or you’re wanting a refresher, this webinar is for you. You’ll learn the basics and get a sampling of the how-tos for Facebook, Instagram, LinkedIn, and Twitter.
Flood insurance continues to garner increasing attention among regulators, insurers, lawmakers, and the public. With ongoing federal funding challenges, pressure on the system from continued land development along flood-prone areas, potential impacts of climate change, and increasing amounts of data available to assess risk, alternatives to the current flood insurance system are being discussed. This webinar will look at the history of flood insurance, assess the current state – including challenges and opportunities, and discuss some potential future alternatives for this coverage.
Automation and artificial intelligence are creating a number of process efficiencies in claims departments; however, as technology advances, new skill sets are required to deliver exceptional customer experiences to policyholders. While hard skills remain important, soft or “human” skills such as empathy, problem-solving, and prioritization are vital for the future of work. In today’s quickly evolving insurance landscape, claims leaders must focus on human skills to strategically leverage the unique capabilities of both humans and machines. In this webinar, attendees will learn important skills to adapt to the changing claims environment.
Now more than ever, companies need to build much deeper ties to customers because of the technology that has enabled frequent, low-friction, customized digital interactions. Instead of waiting for customers to come directly to insurance companies, carriers need to flip their mindsets and meet their customers the moment their needs arise, sometimes even earlier. Through this shift of doing business, insurance carriers can create value for themselves, their customers, and society. This session will dive into examples in which telematics can provide better touchpoints with customers to make engagement less disruptive and more meaningful.
The Management Conference is a summit for CEOs, executive teams, and future leaders of the industry. Power sessions focus on strategy, innovation, leadership and industry trends. Concurrent sessions dive into operational and emerging issues. Workshops and interactive sessions allow for extended discussions and opportunities to learn from fellow leaders in the industry.
Adaptive driver assistance systems are being incorporated into more vehicles on the road today. While these systems are designed to reduce accidents and save lives, the impact on insurance costs is not as clear. One reason for this is that the presence of these systems is not easily determined. Join this session to hear from Pinnacle Actuaries about the results of research on the true impact of ADAS when it comes to the frequency of accidents and the ultimate costs related to injuries and repairs.
The new megafire age is here, and insurance companies need to know that it means for the future. During this session, David Jowell will take attendees on a deep dive into the lessons learned from previous wildfires that may assist in forecasting future exposures. He will review emerging trends in frequency and severity and evaluate wildfire scoring models for accuracy. He will also evaluate the latest mitigation, building, and firefighting techniques as reliable defense mechanisms.
This program defines commutation and the purpose and steps to completing a commutation, including identifying targets and motivators, gathering required information, carrying out the assessment and completing the reconciliation process, and conducting negotiations.
This course will dive deep into CGAD and its implications in the mutual insurance industry. This webinar qualifies for one FMDC elective or maintenance credit in the Management module.
During this session, attendees will explore new theories being put forth by plaintiffs and their attorneys regarding bad-faith allegations. There will also be a discussion about bad-faith set-ups employed by plaintiff attorneys, the inclusion of consequential damages when determining bad faith judgments, and the potential for personal accountability by the adjuster if the plaintiff is successful. The session will conclude with a discussion of risk management steps claims professionals can initiate to prevent bad-faith allegations.
Learn how to adopt an online reputation management strategy to stay on top of your reputation, gauge customer sentiment, and generate new reviews on a regular basis.
Employers are increasingly perplexed about how to avoid mistakes that could result in claims when confronting employees’ the medical and recreational marijuana use, on and off the clock. During this session, attendees will learn about recent changes in state laws and effective guidelines for insurers to help employers establish workplace safety and productivity in this fast-changing environment. This webinar will include concrete real-world examples from which insurers and employers can learn.
The cannabis industry raises considerable data privacy and cyber-liability risks based on the manner in which it operates. While often considered small or midsize businesses, cannabis dispensaries and the producers they offer have onerous state compliance reporting requirements. Furthermore, the industry relies heavily on technical solutions and massive amounts of personal data for operations, marketing, auditing, and security. All of that combined with a very limited choice of industry technology solutions can create a perfect storm of cyber insurance risks for the cannabis industry. In this session, attendees will learn how the insurance industry can mitigate the cyber risks of cannabis in the insurance industry.
The session will focus on the current employment practices liability underwriting trends that carriers have been monitoring. More specifically, there are several evolving workplace trends that have demonstrated further complications with the employer/employee relationship that can create additional exposures for an employer. These emerging trends are creating new venues for harassment and discrimination, which are examples of the evolving workplace that can create liability exposure. Although the trends apply to all employers regardless of size, the session will focus on small business owners and highlight the importance of having EPL coverage to protect their businesses.
Speed and clarity in communication seem to be in opposition, but both are being demanded by consumers. This session will review different types of communication and how excellent communication skills can lead to improved results. It will discuss techniques adjusters can use to maintain control of a claim through to final resolution.
The Agricultural Risk Inspection School is a popular and intensive two-and-a-half day program for loss control specialists, underwriters, managers and supervisors. Both fundamental and advanced topics are offered to meet the varying educational needs of those working in loss control today. The highlight of the school is the farm learning lab where attendees go through a hands-on inspection of an area farm.
This webinar will cover intellectual property pitfalls and identify best practices for insurance marketing, particularly as it relates to online marketing and website design. It will address avoiding copyright trolls, rights-of-publicity issues, trademark protections, protecting content, and dealing with fraudsters, all in the context of insurance regulation and emerging privacy regulation.
Artificial Intelligence will change the world more in the next decade than the internet has in the past 25 years. This session will focus on how AI is drastically changing the way the trillion-dollar global property insurance industry has been assessing risk for decades. Instead of heavy reliance on costly inspections or self-reported information by the insured, insurers can now leverage highly accurate data captured by AI from high-resolution imagery from satellite, low-flying aircraft, and drones. This data will revolutionize underwriting and pricing as well as provide an engaging, digital experience for customers and agents. This session will focus on current production-scale applications of AI in the property/casualty insurance industry.
For all the industry talk about being customer focused, few companies are truly are. It’s all too easy for organizations to become inward focused and think about their own activities rather than what their customers are going through. Andrea Olson, author of “No Disruptions” and CEO of Pragmadik, will discuss how organizations need to step back from their assumptions and shift their strategies to center on recognizing, responding, and rewarding customer-centric actions and behaviors.
This session will focus on statements as an investigative tool. It will examine various types of statements, including written statements, recorded statements, and examinations under oath, as well as how and why they are taken. Guidelines for statements that involve unique situations will also be provided.
This presentation will provide an outline of the evolution of the legal cannabis industry to date, including seed-to-sale companies and ancillary businesses, and industry predictions. The presenters will focus on providing clarity of what medical and recreational use is and is not, current state and federal legislative actions, and how hemp and CBD different from cannabis. The session will address challenges and issues impacting the insurance industry during this period of growth and how they will evolve. It will close with a discussion of risks, opportunities, and questions that exist for insurance companies.
While third-party actions provide little control over costs incurred by an injured party, workers’ compensation laws provide a host of procedures that can reduce medical costs and reduce indemnity benefits. This session will explore cost-containment strategies that can be used to reduce medical costs and the costs of indemnity in workers’ compensation claims.
In the wake of the very poor results suffered by commercial auto writers in the United States, attention has turned toward liability and umbrella results, and the signs are concerning. Throughout 2019, there was increasing industry commentary on social inflation as a key cause of deteriorating casualty results. Social inflation generally refers to the rising costs of insurance claims that are a result of societal trends and views toward increased litigation, broader contract interpretations, plaintiff-friendly legal decisions, and larger jury awards. This session will explore social inflation and its impact on casualty lines.
The Leadership Development Workshop is a highly interactive and engaging one-and-a-half day immersive experience for insurance professionals who are looking to develop their team leadership and management skills. Both new and experienced leaders have options to choose from with two featured workshop tracks. Check out the Workshop Topics & Speakers page for more information on each track and the target audience. As an exciting new addition this year, the workshop will kick off with a panel session of CEOs, who will share their insights on leadership with attendees.
This session will explore how underinsured motorists and uninsured motorists claims can create an adversarial relationship with insureds. The coverage, what it means for claims professionals, and how to approach resolution of the insured’s claim will all be explained.
This course will provide a high-level overview of the underwriting process. This webinar qualifies for one FMDC elective or maintenance credit in the Operations & Insurance module.
From equipment breakdown, employment practices liability insurance, cyber, liquor, professional, flood, and more, there are turnkey solutions to help carriers get into lines of business quickly, efficiently, and with the expertise and backing of specialty reinsurers. This session will take a high-level look at typical turnkey products. It will explore the basics of how the products work and touch on how carriers can work closely with their reinsurer of choice to collaborate on existing products and new ideas.
The amount of information that bombards us daily too frequently obscures true insight. Intelligence should drive better innovation, but unless it is strategically collected and used, it functions like an engaging distraction. Innovation starts with discovery — where an innovator pinpoints an important customer problem to solve – and smart companies intertwine customer intelligence throughout their innovation processes. This presentation will discuss how to effectively capture ground-level intelligence by asking the right questions and how to identify undiscovered customer needs to build innovation and move leaps and bounds beyond your competition.
The latest climate data available clearly indicates significant changes in weather indices, which when combined with changing exposures are materially impacting insurance underwriting and claims experiences. The industry is responding in many new, innovative ways to more effectively position themselves, mitigate increased risk, and profit from resulting emerging opportunities. During this session, attendees will learn about the actions being taken by leading carriers and leave with practical recommendations for tangible next steps for mutual insurers.
This session will identify difference types of experts and analyze how and when they are used in the claims handling process. It will also explore how experts should be vetted to ensure the best outcome on a case when they are used.
Hackers are getting smarter, but is your cyber insurance coverage keeping up? Join this session to learn about the evolving cyber threats and the newest methods hackers are using to disrupt computer systems and access valuable data. See how to map these emerging exposures to cyber insurance coverage and learn how to look for cyber policies that can keep up with current and future risks. Finally, discover how technology is helping analyze and manage cyber risks as well as provide loss modeling for your cyber program.
When it comes to how insurance works in the marijuana industry, it can be a problem if you don’t know your facts. This session will provide an overview of the various types of insurance policies the cannabis industry is seeking – property/casualty and directors and officers, for example –and the issues that arise with each of them. It will discuss various insurance issues in the marijuana industry such as enforceability/non-enforceability of insurance policies. The presenter will also touch on how insurance companies can ensure that they don't inadvertently insure cannabis activity.
Cases involving complex medical issues can be difficult to resolve and will often require additional investigation by claims professionals. This session will concentrate on medical conditions that can be exacerbated by a bona fide injury claim. It will also cover addictions that can arise because of the type of care following an injury This will include opioid addictions and co-morbidities such as diabetes or obesity.
As the data world is evolving, the insurance market is at a crossroad. Carriers need to weigh the balance between speed and profitability during the underwriting process. During the underwriting process, there are several unknowns about the property at the time of underwriting. With an increase in catastrophes and weather-related events impacting combined ratios, carriers are finding it harder to grow profitably. Carriers are not able to inspect every property, and underwriters cannot review every application in detail. This session will highlight how carriers will be able to leverage emerging technologies to better understand the unknowns and make well-informed underwriting decisions. The session will also discuss the evolution of home inspections, the impact of computer vision and machine learning in underwriting, and what the future might have in store.
Agricultural enterprises are depending on drones more and more to improve productivity and reduce costs. Claims organizations are also beginning to use drones as tools for evaluating losses. Attendees will learn background information on drones and their uses as well as current information regarding federal regulation of drones. This session will be of assistance whether a claims professional is using drones in the investigative process or is handling a claim because of coverage for an insured.
This session will focus on code and regulatory requirements for safe, secure cannabis operations. Discussion topics will include fire safety considerations associated with cultivation structures, oil extraction equipment, gas detection systems, carbon dioxide enrichment systems, and horticultural lighting.
Learn how you can leverage your agencies’ digital marketing to strengthen the relationship with them, increase brand awareness, and generate increased policy sales for your organization and your agencies by taking on digital marketing coordination and support.
This course will provide an understanding of the impact that different types of retirement plans can have on a small mutual insurance company. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.
As profit margins shrink and customer expectations rise, finding new ways to automate high-volume, repetitive manual tasks is key to accelerating response times and delivering exceptional customer service. Being able to speed up policy issuance, achieve contract certainty, and reduce policy rework are essential in a world where competitive differentiation will no longer be based solely on product or price, but rather on experience. In this session, attendees will learn how artificial intelligence can help take underwriting to the next level.
The presentation will explore cannabis’s various risk classifications types – from seed to sale – and the unique exposures each risk presents. Additional context will be provided about underwriting considerations for main coverages, including property, crop, financial lines, and stock throughput. The session will conclude with a discussion on unaddressed market needs and potential areas for growth.
Learn the latest compensation trends in the property/casualty insurance industry as Kaitlyn Isley of McLagan reveals new data from the NAMIC Property/Casualty Compensation Survey. This webinar will review overall data trends in pay and provide insights on what top companies are doing to recruit top talent.
Artificial intelligence and machine learning technology is reshaping the traditional claims handling process. Beginning at first notice of loss, AI and ML engines can perform assignment triage through early severity and fraud identification. These technologies can also provide adjusters new insight into resolution strategies. However, in most claims situations, AI and ML are augmenting adjuster expertise, not replacing it. This session will focus on the various types of AI and ML technologies and how they are being used in the claims handling process.
What you do matters to a lot of people, so what you know about what’s coming for our industry matters, too. That’s why the NAMIC Annual Convention focuses on emerging-issue and company operation education. With sessions designed exclusively for the C-suite, senior company leaders, and board members, plus educational tours balanced with casual networking opportunities, we’re ready to help you maximize your time out of the office. We’re bringing together the most respected experts and the most valuable resources, like reinsurers, brokers, rating agencies, and other service partners to help you get the access you need and strengthen your peer network.
This session will provide a comprehensive review of the reinsurance options available to underwriters and how they can be used most efficiently. Attendees will dive into an overview of the different types of reinsurance – proportional, excess of loss, treaty, facultative and hybrid facultative facilities. In addition to evaluating the benefits and drawbacks of each from a coverage perspective, attendees will touch on pricing considerations and how/when to use each structure to secure the optimal coverage. The discussion will also cover the different considerations that arise between property and casualty placements, terms and conditions, and price evaluation.
In litigious insurance states, there are certain issues that more frequently give rise to disputes and lawsuits between carriers and insureds. Learn which disputes turn into litigation more often and how to minimize their risks. In addition, hear and see how underwriting tailored to address these issues can mitigate the frequency of being sued and the settlement value of the dispute. Topics to cover include depreciation, cosmetic damage exclusions, anti-concurrent causation clauses, suit limitation clauses, appraisal clauses, attempt-to-repair clauses, and excluded perils/losses generally.
This session will define the current state of the insurance workforce and discuss what companies should be considering when adapting to the challenges and changes in technology and talent management.
This session is designed to help participants understand customers and the importance of building a cohesive experience that is truly customer centric. This session will cover how customer experience and expectations are evolving and how to harness the power of customers’ needs while building meaningful, memorable, and stand-out user experiences.
This session will discuss the basics of PTSD, explain strategies for early recognition and evaluation of potential PTSD claims, promote understanding of approaches being used by claimants to increase value of bodily injury claims by alleging PTSD, and provide defense strategies for bringing these claims to successful resolution.
This course will provide an understanding of potential conflicts of interest and what effect they may have on a mutual insurance company. This webinar qualifies for one FMDC elective or maintenance credit in the Management module.
This session provides insight as to the impact of fraud on the insurance industry, gives an overview of the types of fraud commonly seen in insurance, and discusses methods of combating fraud.
The use of insurance linked securities in ceded reinsurance programs continues to expand. What began decades ago with industry loss warranties and cat bonds has grown to substantially include sidecars and collateralized reinsurance. This session will provide a high-level overview of ILS instruments and how they complement the use of traditional reinsurance. It will then discuss recent activities in the ILS market relative to catastrophe events that occurred between 2017 and 2019. Finally, it will touch on the ILS funds’ expanding appetite for non-cat risk, including short-tail liability lines, cyber risk, and run-off portfolios.
In today’s fully saturated market, insurers are challenged with the constant objective to improve pricing accuracy and underwriting. This is no easy feat, particularly because the breadth and depth of data available for underwriting is steadily increasing. Insurance carriers face the challenge of identifying what’s available, prioritizing it for analytics and validation and ultimately deploying incremental improvements to their rating plans. In this session, attendees will learn how to improve pricing accuracy by digging deeper into the data.
Whether you agree with the legalization and use of recreational or medicinal marijuana, 47 states have changed the substance’s legal status, and workplaces need to be prepared to address the myriad of issues it presents. Because many drug-free-workplace polices are now outdated, employers should ask themselves several questions. “Is our policy too punitive?” “Can we be sued for discrimination?” “Can we terminate an employee with a legal prescription if he or she tests positive?” With the current state of marijuana legislation, there is no doubt the answers are changing. What isn’t in question, however, are the facts that employers need policies regarding drug use and those policies must address intoxication and impairment in the workplace. Join this session to learn more about how legal drugs are impacting the workplace and solutions to workplace liabilities.
As of January 2020, 47 states have legalized marijuana for medical and/or recreational use. The session will begin with a broad overview of the regulatory environment and then drill into the data to see what it has to say. It will also tease out the early impacts of marijuana legalization as well as the risks – and even potential benefits – beneath the news headlines.
The Communications + Marketing Workshop is a one-and-a-half day interactive workshop designed for internal- and external-facing communications, public and agency relations, advertising, and marketing professionals in the mutual insurance industry. The workshop features hands-on learning including roundtable discussions, case studies, idea exchanges, and presentations from industry experts.
You can insure a home and two cars on your phone in a few minutes. Try to spend the same amount of time on a business owner policy and your experience will be … different. Small commercial customers want easier service, carriers want lower expenses, and technology offers new data and tools. This combination allows small commercial insurance to provide the personal insurance experience of instantaneous responses based on robust data and sophisticated modeling. This session will discuss the motivations for this shift and demonstrate examples for implementation.
Sixty-four percent of insurers say policyholders’ personal, identifiable information is the most valuable information cyberthieves seek. The impact of a breach can be devastating, as data breaches cost an average of $3.9 million per incident and significantly erode consumer confidence in a brand. During this session, Jeff Brown will discuss the hurdles the industry faces in handling payment data alongside sensitive consumer data and offer advice for combatting these security risks. Strategies include conducting vulnerability assessments, training employees, and requiring third-party service providers to have specific security credentials.
Digital marketing is the next frontier in marketing and communications. The ability to connect with your audience in just a few keystrokes gives us access in a whole new way. This webinar will give you the foundation for planning and developing a digital marketing strategy that best suits your audience.
Technology can be intimidating. How do you train your staff? How do you begin to implement this new technology? How do you know which you should invest in? These are all valid questions and ones that must be taken seriously when trying to succeed in the new decade of technology. Mobile estimating is one technology that is worth the investment, as it can be a game changer in training new and existing staff and satisfying customer expectations. This webinar will demonstrate how quickly a loss can be estimated while on site to streamline the claims process.
As mutual companies work to stave off competition, many are seeking state-of-the-art cyber solutions for their personal, commercial, and farm books. Yet, without prior underwriting or claims experience, is it too risky to jump into the cyber business? Select cyber experts are now offering turnkey cyber programs to mutual carriers as “reinsured” solutions. This allows the mutual to introduce leading-edge cyber liability coverage while avoiding research and development costs, overhead, and the assumption of risk. Join this session for a practical and topical discussion of cyber risks and innovative uses of reinsurance partnerships.
Frustration is what we hear throughout the industry when confronting bodily injury claims emanating from low-impact collisions. The damages are so minor, common sense screams “No one could have been injured.” Yet, because liability is clear or they want to avoid litigation expenses, insurers settle these claims with substantial sums every day. This presentation provides a process to attack these suspect claims with a consistent investigative and dispositive strategy at an early stage. Focus will not center around the analysis of medical records concerning treatment of subjective complaints of soft-tissue injuries. Rather, the presentation will assess the element of causation and the credibility of the claimant. Attendees will be provided with a clear game plan on how to approach these claims in a way that will contain costs, reduce indemnification, and avoid litigation.
It is human for us to panic when we don’t get the results we want. We get defensive and are not able to hear someone else. When someone is disappointed, learn how to be open and curious to hear what they are saying. It is important to take responsibility and to ask questions so that you can create a win-win solution for all. During this session, attendees will learn how to deal with a difficult customer and how to ensure your customer experiences end on a positive note.
Insurance is one of the last industries to operate on a single platform that allows all participants to connect to it, interact with one another, create and exchange value, and encourage long-term, ongoing engagement. This session will outline the emergence of insurance ecosystems that are replacing traditional insurance agency management systems and single-product, direct-to-consumer models.
The presentation will involve discussion of a large, complex arson-for-profit scheme of more than 70 arsons that ultimately culminated in more than 40 defendants pleading guilty. Only two of the 70 fires were classified as “incendiary” by public and/or private origin-and-cause investigators prior to this case being concluded. The presentation will also include a synopsis regarding lessons learned by the speaker during this two-and-a-half year investigation, while employed as a special agent/Certified Fire Investigator with the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Highlights will include a brief analysis of interaction with insurance industry representatives and content of insurance files, origin-and-cause investigation issues, proper and thorough interviewing, and expert selection.
This course will provide a high-level overview of the claims and adjusting process. This webinar qualifies for one FMDC elective or maintenance credit in the Operations & Insurance module.
This course will dive deep into the audit function in the mutual insurance industry and issues companies may face. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.