The claims sector, in particular, is vulnerable to global supply chain disruptions and material inflation that could drive up costs and slow down the resolution process. Pat Van Bakel (pictured), president, North America loss adjusted, Crawford & Company, told Insurance Business that while the full impact of tariffs is still evolving and uncertain, the industry should not underestimate the consequences on claims services.
Speaking during the company’s earnings call, Tooth said Trupanion has experienced stronger lead generation, retention, and conversion rates. “We’ve seen people come in and grow faster than us time and time again, and they’re not there now,” she said. Source link
Workforce reductions and expansion efforts In 2023, GEICO announced significant workforce reductions, laying off approximately 6% of its employees, or about 2,000 staff members, as part of a broader industry trend. This move followed similar actions by other major insurers, including Farmers Insurance, State Farm, and Allstate, which curtailed operations in Florida, California, and other…
“A huge congratulations to our new partners. It has been a privilege witnessing their growth and progression over the years. At Kennedys, our people are our greatest competitive advantage, and [the] promotions underscore the breadth and depth of our talent. As they begin their new roles, they will each play an instrumental part in further…
Simon Delchar, global head of placement at Willis, added that the expansion reflects growing collaboration within the London cyber market. “CyXS Plus and CyXS Company bring the number of insurers supporting CyXS to 25, showing fantastic commitment from the London cyber market to deliver better outcomes for our clients around the globe,” he said. Source…
“We are not very good in terms of being the fastest or the first mover,” Jain said, adding that Berkshire prefers to “wait and see until the opportunity crystallises.” His remarks suggest that the conglomerate, which is currently navigating profit pressure and a major leadership transition, is unlikely to make large-scale AI bets any time…
