The National Association of Mutual Insurers (NAMIC) held its 2023 Annual Convention on September 17-20 in National Harbor, Maryland. During the convention, AAIS sat down with Professor Bob Hartwig, Ph.D., CPCU, Director of the Center for Risk and Uncertainty Management at the University of South Carolina, to discuss the effect of the U.S. economy on the insurance market, the current state of the reinsurance market, trends affecting carriers, and the impact of an election year.

Inflation, fluctuations in building costs, and hardening reinsurance markets demand new approaches to portfolio management for commercial insurers. As part of our AAIS Webinar Series, AAIS hosted a virtual presentation on March 16, 2023, featuring AAIS Partner OneShield, the cloud-based, core systems platform providing business solutions for MGAs and P&C insurers. The session was hosted by Stephanie Vasey, Product Manager of Commercial Lines and Inland Marine at AAIS, and moderated by John Dunn, Vice President of OneShield. Their discussion explained how to reduce risk overall and addressed the inflationary economic conditions with a greater understanding of insuring commercial properties. Industry panelists Jeff Heine, Chief Revenue Officer of Betterview, and Skip Coan, Vice President of e2Value, Inc., showed attendees how aerial imagery, data analytics, and property estimation tools bring a new level of accuracy and transparency to the commercial property policy lifecycle.

Since the COVID-19 pandemic struck more than a year ago, travel restrictions and remote work and schooling kept people close to home. With far fewer places to go, there were less people and cars on the roads, which had numerous implications for the insurance industry.