AI vs brokers? How tech-robo partnerships are redefining the sector

Underwriting results were similarly impacted, with underwriting income dropping to $27.2 million, from $89.5 million in Q1 2024. The catastrophe loss ratio saw an increase, reaching 13.0%, compared to 4.9% in the previous year. This contributed to a higher combined ratio of 96.1%, compared to 86.6% in the same quarter of 2024. Source link

Carriers should continually adjust their strategies across underwriting, pricing, and claims to stay ahead Source link

In an order issued March 20, Judge Henry T. Wingate of the US District Court for the Southern District of Mississippi denied motions to dismiss filed by PennyMac Loan Services, LLC and Caliber Home Loans, Inc. The ruling allows plaintiffs Ashley C. Guerdan and Catherine E. Guerdan to proceed with their lawsuit, which includes claims…

It may impact home insurance pricing and coverage availability Source link

The potential acquisition aligns with Allianz’s strategic focus on expanding its private credit capabilities. Allianz Global Investors, the asset management arm of Allianz, has been actively enhancing its private credit offerings. In October 2023, AllianzGI launched the Allianz Core Private Markets Fund, a semi-liquid strategy providing professional investors access to a diversified portfolio across private…

House Resolution 336 would extend prohibitions beyond credit scores and occupations to include education level, employment status, gender, ZIP code, census tract, homeownership status, previous insurer, and prior insurance purchases. The bill’s language specifies that these factors would no longer be permitted when insurers calculate premiums.  Source link