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.

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.

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.

The New Year is here, and with it comes new opportunities and challenges for the carrier marketplace. Joe Berrios and Jon Stambaugh share the findings of our 2023 survey and discuss the key themes and top priorities for our partners across the industry this year.

Many critical issues are facing mutual and mid-market carriers right now, including the war on talent, digital transformation, capital constraints, and how to efficiently unlock growth potential. This makes finding the right partner for your business, that not only understands your priorities but also the surrounding landscape, all the more important.

Outsourcing claims management to a third party can be a novelty for carriers, but the dynamic arrival of 2022 means this could be the year to look at the options for doing business differently.

Benchmarking is critical to diagnosing the health of your claims program, but the approach carriers and the insurance industry has taken over the years has varied in effectiveness and relevance.

The manner in which carriers select a robust, effective RMIS has changed a lot in recent years.

As expected, momentum has picked up in the program market in 2021.