OneAdvent

Some predictions from industry leaders for the year ahead in this week's news roundUP: 🔸 2025 will be the year that #AI "starts to deliver real value" (says Capgemini) 🔸 More challenging conditions are set to rock the aviation industry as 2025 progresses (according to WTW) 🔸 AM Best performance assessments could become the new norm for MGAs, with 80% of brokers supporting the idea (reveals Corin Underwriting) Check it out: https://lnkd.in/g65XQ2Yi #MGAs #insurance #insurers #brokers #GenAI #investment

Research reveals that over 80% of brokers think MGAs should undergo AM Best performance assessments but is this the best measure of reliability? Read our article to find out what this could mean for brokers, carriers and the industry: https://lnkd.in/dUXG7mWy #MGAs #brokers #insurance #carriers #insurers #capacityproviders

🌹 ❤️ 💌 ❤️ 🌹 Our Valentine's gift to you, is a lovely bouquet of news, with talk about culture and catastrophe loss, from the #FCA and the AIG boss, and also an update on #insurtech funding and #cyber pricing, which sure isn’t stunting. Follow us for more insurance news On this day of love, what's there to lose?! 🌹 ❤️ 💌 ❤️ 🌹 https://lnkd.in/eyUwnidg #insurance #reinsurance #culture #insurtech #catastrophe #losses

Our head of compliance and risk, Richard Palmer, has been immersing himself into the world of MGA claims at the Managing General Agents’ Association (MGAA)'s event today. He's been finding out about the state of play in the claims sector; 🔸 Leaders firmly believe Gen AI will improve the customer journey 🔸 Human expertise is still critical for more complex claims 🔸 The claims experience can be incredibly fast – one insurer paid a £300 claim within 8 minutes of it being submitted online 🔸 Fraud is more prevalent in motor than household but this is more of a societal problem than an insurance one 🔸 The industry is overburdened with regulation but this is largely due to historic poor practices  🔸 Big insurers are dedicated to investing in tech to improve customer claims #claims #GenAI #regulation #fraud #MGAs #insurance

The OneAdvent team were out and about at this morning's Managing General Agents’ Association (MGAA) Broker Exchange. It was great opportunity to catch up with familiar faces and to make some new connections 🤝

The importance of the #delegated #authority sector is highlighted in two articles in this week's news roundUP. Firstly, findings from AM Best's market segment report reveal that 70% of insurers they surveyed expect premiums sourced from DUAEs to grow. Secondly, a report from Oxbow Partners, says that the delegated authority market “offers ample opportunity” to carriers but that “winning models are yet to be established”. Get the full lowdown here: https://lnkd.in/eNaBBUv9 #MGAs #delegatedauthority #carriers #insurance #rates

✨ Congratulations to Richard Palmer on his workiversary!✨ What better way to celebrate our beloved head of risk and compliance than with his very own haiku... 𝘊𝘢𝘭𝘮𝘭𝘺 𝘵𝘢𝘤𝘬𝘭𝘦𝘴 𝘳𝘪𝘴𝘬 𝘎𝘶𝘢𝘳𝘥𝘪𝘢𝘯 𝘰𝘧 𝘔𝘎𝘈𝘴 𝘕𝘰 𝘱𝘳𝘰𝘣𝘭𝘦𝘮 𝘶𝘯𝘴𝘰𝘭𝘷𝘦𝘥 #OAFamily #risk #compliance #insurance

AM Best has just released the findings from their recent global survey in which they interviewed rated carriers about the delegated underwriting authority enterprises (DUAE) market. Key headlines are; 📈70% of insurers expect premiums sourced from DUAEs to grow 🫂 Insurers view maintaining and cultivating current DUAE relationships as more vital than developing new ones 🪡 DUAEs are “critically important” due to their ability to deliver micro-specialisation and tailored solutions 💻 #Technology has become a cornerstone of DUAE operations, benefitting carriers with lower operational costs and quicker turnaround times Read the full report: https://lnkd.in/dP5DxrJG #MGAs #insurers #DUAE #insurance

This time next week the OneAdvent team will be on site at the Managing General Agents’ Association (MGAA)'s Broker Exchange! 🥳 Find us at stand 48 to find out more about how we launch and grow specialist #MGAs in the UK and Europe. P.S. If seeing our friendly faces isn't enough there may possibly be some sweet treats on offer...🍬

If you don't know the answer to these burning insurance questions, then make sure you get in the know by reading this week's news roundUP... 🔚 Who has Lloyd's announced as the next C-Level exec departure in 2025? 👨💼 What does Trump 2.0 mean for #insurance? 🔮 What's the est. insurance protection gap for nat cat according to WTW? 🔥 Why are parametric insurance solutions are key to managing secondary perils? https://lnkd.in/dSFyfEE8 #wildfires #parametricinsurance #riskmodels #Trump