As mutuals step into the landscape of 2024, leading with robust, creative, and strategic planning for long-term success is paramount. The NAMIC 2022 Mutual Factor Report recently highlighted the impressive growth of the mutual insurance industry, setting the stage for mutual carriers to seize opportunities and overcome challenges in the year ahead. In this article, we explore three strategic pillars that will empower mutual carriers to navigate the remainder of the year and set the foundations for growth in 2024.

The Vermont Captive Insurance Association (VCIA) held its annual conference on August 7–10 , and our Gallagher Bassett experts took full advantage of the ample networking and educational panels while discussing opportunities to collaborate and prosper in the program business space.

Get an exclusive look into the insurance industry’s biggest challenges as Jon Stambaugh, SVP – Carrier Practice, shares upcoming opportunities for carriers moving into the final months of 2023. He also reveals key focus areas for carriers aiming to thrive, reaffirms the attention on the global talent crunch, and spotlights key considerations when seeking strategic partnership opportunities.

In the ever-evolving insurance industry, the management of complex claims requires a delicate balance between technology and human input. While automation and digital tools have streamlined processes, human connection, and oversight remain indispensable. Joe Berrios, Managing Director – Carrier Practice, delves into advice for striking the right balance between technical and human interaction when managing complex claims.

With increasing claims complexity, rapid technological advancement, and an ever-changing industry environment, MGAs and PAs focused on the construction industry face a number of risk management challenges. Greg Perruzzi, SVP — Construction Vertical Practice, examines four key areas where deploying end-to-end risk management strategies can mitigate exposure and reduce total cost of risk.

In the fast-paced world of general insurance, standing out from the competition is crucial. Analytics innovation and streamlined processes hold the key to operational performance improvement, empowering carriers to achieve remarkable results. Join Joe Powell, SVP – Analytics, as he dives into the transformative impact of analytics innovation in the general insurance space. Joe unveils three game-changers revolutionizing the way carriers operate, unlock unparalleled efficiency, and deliver superior outcomes.

In today’s challenging economic landscape, carriers are prioritizing operational and commercial efficiencies. This has prompted the insurance sector to focus on solutions for legacy claims and underperforming lines of business. Here, Jon Stambaugh discusses the opportunities for carriers to address legacy liabilities and improve operational outcomes.

In today’s industry, keeping pace with changing customer expectations and an ever-evolving industry can be challenging. Fortunately, this month’s Western Region Captive Insurance Conference provided an opportunity to collect expert insights that can empower carriers and captives to secure sustainable success. Following the conference, we are sharing what we hope is a lasting guide to the claims management best practices not to forget and the invaluable questions and answers shared to help insurance providers stay at the forefront of their field. Here, we also dive into some of the questions posed to the expert panel during the discussion.

RISE (Rising Insurance Star Executives) held its second annual Leadership Summit & Awards Gala on May 23–24, 2023, in Fort Lauderdale, Florida. Industry veterans representing several disciplines within the insurance industry gathered to share their expertise and make connections with the upcoming professionals who attended.

In the dynamic transportation industry, carriers face increasing pressures from supply chain challenges and regulations, which makes effective risk management crucial. Telematics has emerged as a vital tool, optimizing claims results, navigating complexities, and enhancing customer satisfaction. Join Doug Betkowski, SVP — Transportation Practice Leader, and Amy O’Brien, VP — Carrier Practice Sales, alongside Mark Gallagher, VP of National Transportation at Risk Placement Services, as they discuss leveraging telematics for improved claims outcomes.

The insurance industry has long been regarded as a stable and reliable sector, but it is not immune to the challenges of today’s fast-changing business landscape. Mutual and mid-market carriers are facing a confluence of factors that are impacting their bottom lines, including rising business costs, complex claimant needs, and the mounting impacts of inflation. As a result, many mutuals and mid-markets may be feeling stuck and struggling to get ahead. However, for those seeking to move forward, leaning on a strategic partner could be the answer to unlocking the tools and expertise needed to address these challenges.

The Target Markets Program Administrators Association (TMPAA) Mid-Year Meeting took place on May 1–3, and our Gallagher Bassett Carrier Practice team took full advantage of the ample networking and educational panels while discussing opportunities to collaborate and prosper in the program business space.