As mutual and mid-market carriers prepare for what’s next, strategic planning and diversification play crucial roles in ensuring long-term success in the evolving insurance industry. Looking ahead, embracing adaptability, navigating a highly competitive marketplace, and finding unique differentiators are among the top priorities for carriers.

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.

Navigating the dynamic carrier landscape requires a keen understanding of evolving customer expectations, the pursuit of service excellence, and staying across the latest technology trends. In our new whitepaper, “The Carrier Perspective: 2024 Claims Insights,” we delve into how carriers are adapting to meet these shifting demands while leveraging technology to drive innovation. As we move through 2024, the focus remains on accelerating the claims lifecycle and delivering superior customer service as a cornerstone of success.

Carriers are constantly seeking new ways to improve their claims outcomes, and Gallagher Bassett’s (GB) award-winning Luminos platform has emerged as a critical tool in achieving this goal. Recently named the top RMIS platform for its sixth consecutive year in the 2023 Redhand RMIS Report, GB’s Luminos RMIS suite offers comprehensive risk management capabilities and cutting-edge digital features that have helped carriers achieve superior claims results.

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.

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.

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.

In the evolving world of risk, embracing connection, discussion, and insight is the gateway to preparing for what lies ahead and setting a foundation for future success. The array of thought leadership sessions, educational seminars, DE&I discussions, and state-of-the-art solutions at RIMS has certainly empowered risk professionals to bring innovation to the heart of their operations. Our team at Gallagher Bassett (GB) shares the top insights we will be taking back to our desks.

The COVID-19 pandemic forced the world to adapt to a new normal, albeit a temporary one, driven by social and health-based regulations. This, of course, impacted businesses worldwide and created a number of new challenges, from day-to-day operations to communicating with clients to recruiting and retaining talent. These obstacles accelerated how businesses utilize the virtual business environment.

Now that we’ve entered 2023, there’s never been a better time for mutuals and mid-markets to ask themselves where they fit in today’s industry. These answers will not only inform future business decisions but help you stand out from the competition. Caryn Siebert and Amy Cooper share the top tips to find your market differentiator.

Subrogation reimbursement is a common business goal, but while carriers often strive to achieve the highest recovery possible as quickly as possible, subrogation is often deprioritized by claims adjusters. Several carriers, risk management insureds, and self-insureds have retained GB’s Centralized Subrogation Team to pursue these opportunities.