Published: January 2017

Agents of Change

A Global Conversation: Technology Investment: Insurance professionals speak with A.M. Best TV about startups, investors, and Silicon Valley.

A.M. Best Rankings: Top Audit and Actuarial Firms ranked by 2015 loss reserves.

Beyond Numbers: As pressure builds on insurers to accommodate additional regulation, keep up with advancing technology and take to heart a culture of risk management, outside auditors and actuaries are reaping more detailed assignments and a greater scope of responsibility.

Brexit: Breaking Up Is Hard to Do: The United Kingdom's decision to leave the European Union has been described by a former Deputy Prime Minister of the U.K. Lord Michael Heseltine as being "the greatest constitutional crisis in modern times" in the U.K.

Finding Solutions: In early 2016, Symetra Financial Corp. announced the completion of its acquisition by Sumitomo Life Insurance Co. The $3.8 billion deal has not changed Symetra's strategy, which is to build itself into a national player within its three divisions—employee benefits, individual life and retirement, CEO Tom Marra said.

Going the Extra Mile: In 2011, Metromile was founded on the premise that auto insurance should be billed only for the time it is used. It has never shied away from that assertion.

Insight: Get Smart: A senior citizen had an opportunity to test out a driverless car. When he was finished, he exited the vehicle shaking his head. The auto company technician asked the gent if something was wrong with the vehicle.

Insight: Race to Innovate: Insurers are disrupting themselves before their competitors get the chance. In fact, insurance companies have joined venture capitalists in the race to invest in tech startups, leveraging new platforms, big data and advanced analytics, and inventing new product and service offerings that are likely to compete with and even marginalize existing ones.

Insight: Trumponomics: Donald Trump's inauguration this month represents the end of an intense period of speculation and sophistry about his administration's policies and the beginning of their implementation.

Insight: Year of Innovation: "You can observe a lot by watching." Yogi Berra, a baseball icon and one of only seven managers to lead both American and National League teams to the World Series, knew something about leadership.

Insurance-Linked Securities: A.M. Best discusses its new rating methodology for insurance-linked securities and structures.

Insurance Trade Show Navigator: Trade shows offer abundant opportunities for insurance professionals. This year we list mos of the important shows scheduled for the insurance industry.

Insurtech Investors: Startups, venture capital and seed rounds are more the language of Silicon Valley than insurance. But these days, investors are turning their attention to the insurance industry. In the following section we talk to insurtech investors and learn why they are so interested in the insurance industry.

• Ending Dread and Disappointment: Spencer Lazar, General Catalyst
• Reading the Signs: Brendan Dickinson, Canaan Partners
• Insurance Overdue for Disruption: Rob Moffat, Balderton Capital
• Reinventing the Insurance Experience: Yann Ranchere, Anthemis Group
• Remaking the Value Chain: Jay Farber, F-Prime Capital
• Entrepreneur and Investor: Tom Hutton, XL Innovate
• Career Curveball: Dan Reed, American Family Ventures

Insurtech Startups: A comprehensive list of insurance startups, their purposes and the people behind them.

Issues & Answers: Accounting & Actuarial Services: As insurers become increasingly focused on analytics, metrics and internal reporting, roles for auditors and actuaries are expanding.

It's a Small World: From an early age, Insureon CEO Ted Devine experienced the many struggles of a small-business owner. At age 16, he, along with his mother, opened a hockey store in Kalamazoo, Michigan, to help pay for his college expenses.

Last Word: In the Headlines: In 2000 Jared Fogle--better known as "the Subway guy"--became the face of the fast food franchise after attributing his 245-pound weight loss to eating Subway sandwiches. Fifteen years later, Subway suspended its relationship with its national pitchman following an FBI raid on Fogle's home amid an investigation into child pornography.

One at a Time: A treasure trove is defined as a collection of valuables discovered where they were hidden or buried. And now, thanks to an insurtech that wasn't initially an insurtech, folks can protect their treasures by using Trov, the company that put its own spin on that term.

Roiling the Insurance Industry: Insurance professionals have seen clever advertising change the look and feel of their industry. They've experienced healthy competition that has led to increased coverage options available to consumers.

Spotlights:

• Workers Comp Alternative Group Pushes for Opt-Out Bills
• Captives Encouraged to Expand Offerings in Light of Growing Risks

Next Wave: The Amazon of Insurance: Insurtech startups face many challenges, from capital requirements to the need for talent that understands the complexities of policy language and claims handling, but these newcomers also have substantial advantages over traditional insurers.

The Corporate Ventures: As insurance technology drives change in the industry, insurers and reinsurers are making sure they aren't mere passengers along for the ride. Over the past two years, there has been a spike in investment activity by industry players.

The Startups : Blair Baldwin knew a good thing when he saw it. And what the former marketing and adtech executive saw was money--an unprecedented amount from venture capitalists and private investors pouring into insurance, largely fueled by the dire need for innovation across the industry.

The Venture Capitalists: Insurance isn't exactly known as a hot industry. In the world of venture capital, however, insurance technology has taken center stage.