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Contact UsThe Supreme Court of the United Kingdom recently ruled in favour of policyholders required to close as a result of government lockdowns, with costly and wide-reaching ramifications likely for the carrier industry. We knew early in the pandemic that the fallout of COVID-19 would cause considerable change in claims trends and risk exposure in the … Continued
Read moreThis phenomenon is casting a heavy influence on many outcomes and costs across the global carrier industry and has no easy solution. While the factors that contribute to Social Inflation (SI) are certainly not new, the true impact of the SI cycle is not well understood by many in the industry. So, let’s start at … Continued
“Mother nature doesn’t care about COVID”, said Winsbury. “It’s never ending, and it never stops.” “We’ve seen a variety of insurable events – catastrophes, weather events, travel interruptions, volcanic eruptions, fuel contamination events, recessions, even the collapse of major insurers. “And we’re seeing rising insurance costs due to the ever-increasing footprint of us as humans. … Continued
In November, our Chief Executive Officer- North America, Mike Hessling, led the latest webinar in our Opportunities and Outcomes series, ‘Innovate to Meet Evolving Customer Expectations and Deliver Improved Outcomes’. Along with our Carrier Practice Leadership team, he shared his thoughts on how carriers can improve the client experience while taking control of the total … Continued
Scott Newland, General Manager – Government and Long-Tail Claims, has worked through many of these severe weather events and shared his top tips for carriers. Q) What do we typically see during a La Niña or El Niño event? Scott Newland (SN) Typically for an El Niño we see an increased risk for widespread, damaging … Continued
Here are our top tips for performing in a challenging, changing and virtual insurance landscape. Put a face to the name Virtual does not have to mean you lose the chance to connect with your team and customers. Many workplace cultures were shaken by the rapid shift to working from home and both new starters … Continued
One of the bigger challenges in legacy system infrastructure is that it is often crafted to solve a specific set of parameters relevant – and restricted – to a moment in time. The result of this often means a lack of support as the businesses evolves away from the requirements the package was initially developed … Continued
Mr Hessling is North America’s Chief Executive Officer for the global provider of risk and claims management services after being appointed to the role in February this year from Chief Client Officer, and has been a driving force behind the company’s burgeoning Carrier Practice, focused on the unique needs of serving carrier clients with outsourced … Continued
While there have been many major events across the decades, there has never been a year like 2020 – with a major bushfire season, storm events and now a global pandemic. The buzz word of 2020 is unprecedented, yet this sentiment holds true. This year every business has been racing to adapt to the latest … Continued
So, how will this fast-tracked movement towards digitization impact the industry? Here are three key trends we expect to see expand into 2021: 1.Increased Transparency Given the way technology has led to mass innovation across a variety of industries, it’s now giving providers a chance to specialise and provide more tailored niche service solutions. As … Continued
The Health Hurdle Operating a commercial enterprise in the midst of a global health pandemic has forced businesses to closely consider their practical health operations from guidelines to strictly enforced rules. This comes into play in managing our own workplaces – offsetting risk and reward with a greater emphasis on the role of our people … Continued
Over the course of the study, the top 20 per cent of insurers generated an annual average profit of $764 million, compared to just $26 million for the middle 60 per cent. After four years of observing the haves and the have nots, the McKinsey team identified five key ‘moves’ for insurance carriers wanting to … Continued
Increased business outcomes and competitive advantage The customer experience can have a direct impact on your bottom line, with unhappy customers increasing administrative burden and ultimately ‘voting with their feet’ by departing in search of another provider. With the resourcing capacity for everything from introducing new products to managing a surge in claims, third-party administrator … Continued
Earlier this year, we had the opportunity to put questions to the global leaders of Gallagher Bassett, capturing their thoughts on the challenges – and tactical solutions – facing the insurance industry. Our panel consists of: Jon Winsbury – Executive Vice President, GB International Craig Furness – Managing Director, New Zealand Pete Diskin – Chief … Continued
How did we end up here? While the insurance industry remains one of the most resilient in the current climate, there is a critical skills gap. A shortage in suitable applicants with relevant experience and specialised knowledge – vital for effective insurance practice – has left many organisations without sufficient human capital. Attracting well-trained employees … Continued
As surge events and matters of business interruption are increasing, let’s examine how the Asia Pacific region responds to these events and learn how a similar approach can be best applied no matter where you are. Transitioning focus from post-event costs to prevention In the past, catastrophe and natural disaster insurance have been the main … Continued
Leading industry publication Insurance Business spoke to Gallagher Bassett’s Chief Operating Officer Brad Smith on elements you need to consider when it comes to outsourcing claims management services. Click here for the full story
Gallagher Bassett International’s Executive Vice President Jon Winsbury sat down with Inside Small Business on what he believes the next chapter will hold for the insurance industry. Click here for the full story
For the insurance industry, the financial implications of the last 12 – 18 months have been a litmus test: from the HIH scheme collapse, to those insurers and third-party administrators (TPAs) better resourced to ride the waves after making sound investment in predictions that ultimately paid off. This year more than ever we’re seeing the … Continued
Gallagher Bassett International’s Executive Vice President Jon Winsbury shared his insights with industry publication Business Daily on the biggest learnings and silver linings carrier specialists can take from the year that has been. Click here for the full story