We recently discussed the rapid proliferation of batteries in modern homes and businesses and the more worrying proliferation of fires associated with those batteries on AAIS Views. On October 12, 2023, the Fire Department for the City of New York (FDNY) hosted a one-day symposium titled, “A Conversation with the Insurance Industry About Lithium-Ion Batteries.” The intent of the symposium was to share the scope of the problem, the current state-of-the-art in mitigating these types of incidents, and a clarion call for insurers to join the fight in addressing this scourge.
AAIS Insights
Redefining Mobility & Risks of Battery Fires: Findings from an FDNY Symposium
Nov 2, 2023 / by Matt Hinds-Aldrich posted in Technology, Issues & Trends, New/Emerging Risks, Fire, AAIS Insights, Risk, FLAMES, Battery Fires
AAIS President & CEO’s View on Addressing Market Challenges with Data & His Vision for AAIS and Its Members
Oct 10, 2023 / by AAIS posted in Data & Technology, Data, AAIS Insights, membership, Data/Tech, Insurance Market, Advisory Report
For this Advisory Report, AAIS spoke with its President and CEO, Werner Kruck. He discussed the biggest market challenges and how to address them with data, a better approach to the “data problem,” how AAIS is supporting its Members, and his outlook on AAIS moving forward.
Tapoly CEO Explains What Insurers Should Know When It Comes to the Gig Economy
Aug 9, 2023 / by Janthana Kaenprakhamroy posted in Insights, Issues & Trends, New/Emerging Risks, AAIS Insights, Economy, Tapoly, Gig Economy
For the third part of our blog series featuring Tapoly, the digital provider of flexible insurance products and insurance technology solutions, CEO Janthana Kaenprakhamroy offers insight to insurers on the gig economy market. Kaenprakhamroy breaks down the gig economy, how it affects insurers, and solutions for small businesses to navigate this market system.
Home Is Where the Battery Is
Jul 17, 2023 / by Matt Hinds-Aldrich posted in Personal Lines, Technology, Issues & Trends, Insurance News/Current Events, Homeowners, New/Emerging Risks, Fire, AAIS Insights, Risk, AAIS FLAMES
“Check out my new drone. The camera and range are exceptional!”
“I’ve been getting out of the house more than ever with this new e-bike, have you considered getting one?”
“Now that my solar array is complete, and I’ve connected the new 3000-watt home battery backup, I’m ready to go off-grid.”
Tapoly CEO Shares How Insurance Companies Can Achieve Efficiency Utilizing Automated Technology
May 18, 2023 / by Janthana Kaenprakhamroy posted in Insights, Technology, Issues & Trends, Data & Technology, Insurtech, Blockchain, AAIS News & Views, AAIS Insights, Data/Tech, Artificial Intelligence, Machine Learning, Analytics, Tapoly
For the second part of our blog series featuring Tapoly, the digital provider of flexible insurance products and insurance technology solutions, CEO Janthana Kaenprakhamroy gives insight into how insurance companies can utilize automated technology to achieve efficiency. Kaenprakhamroy delves into how this technology can be utilized, where to apply these solutions within a company, obstacles insurers may face, and how SaaS solutions can help.
2022 AAIS Market Survey Results Reveal Most Pressing Industry Issues
Feb 2, 2023 / by AAIS posted in Community, Insights, Issues & Trends, Data & Technology, P&C Insurers, Legislation & Regulation, AAIS News & Views, AAIS Insights, Data/Tech, Insurance Line of Business, Florida Insurance Market
The Economy/Inflation, Talent Acquisition and Litigation Top Concerns; Integrity, Security and Accuracy Lead Priorities for Data/Technology
Throughout 2022, AAIS conducted several surveys from a cross-section of insurance professionals, many associated with insurance industry events. What emerged from these various surveys was a view of the top issues and concerns facing the industry as well as the priorities placed on data and technology initiatives. This summary presents the aggregated results of those surveys. We trust this information is useful for AAIS Members and other industry stakeholders as a catalyst for discussions surrounding the development of solutions for the most pressing issues that lie ahead.
Premium Leakage: Understanding the Impact and Solutions for Auto Carriers
Jan 24, 2023 / by Ash Naik posted in Insights, Issues & Trends, Data & Technology, New/Emerging Risks, Auto, AAIS News & Views, AAIS Insights, Personal Auto, Data/Tech
Premium leakage is a critical issue for carriers writing personal auto insurance, particularly with the rising severity of claims. However, by utilizing data and building partnerships with auto manufacturers, data providers and new insurtech vendors; carriers can take steps to limit exposures due to incorrect mileage and garaged locations. Join us in building a community to solve this problem.
Bob Hartwig Outlines Reasons to be Optimistic for Future of Economy
Dec 13, 2022 / by AAIS posted in Insights, Issues & Trends, AAIS News & Views, AAIS Insights, AAIS Pulse, Pulse Chicago
Professor Bob Hartwig, clinical associate professor at University of South Carolina touched on the various issues affecting insurance carriers during the latest AAIS Pulse: Chicago presentation. During a time of immense political and economic change and challenges seen across the insurance market, he also touched on reasons to be optimistic for the future of our economy.
Bob Hartwig Talks Global and Domestic Reinsurance Markets
Dec 8, 2022 / by AAIS posted in Insights, Issues & Trends, AAIS News & Views, AAIS Insights, AAIS Pulse, Pulse Chicago
Professor Bob Hartwig, clinical associate professor at University of South Carolina, was interviewed for the latest AAIS Pulse: Chicago presentation. He examined current economic conditions and their impact on the insurance market as a whole, but also discussed how those conditions will impact the global and domestic reinsurance markets.
Tapoly CEO Explains How Companies Can Be More Efficient
Nov 30, 2022 / by Janthana Kaenprakhamroy posted in Insights, Issues & Trends, AAIS News & Views, AAIS Insights
During a special blog series featuring Tapoly's CEO Janthana Kaenprakhamroy, AAIS sat down to discuss the challenges insurance companies are facing right now while trying to be more efficient. Insurers are under pressure more now than ever due to rising loss costs. As loss ratios have gone up, there is also an increased pressure on expenses as they attempt to be more efficient.
Janthana explained some of the biggest issues putting pressure on companies right now, what some areas are that companies can in fact become more efficient, and how Tapoly can help insurers become more efficient.