There’s no question that 2016 was an extremely challenging year for the property and casualty insurance industry. In fact, according to a recent report from A.M. Best, the industry will likely end up posting a small underwriting loss for 2016. Considering that 2015, 2014, and 2013 were modestly profitable years, posting a loss for 2016 […]
Month: February 2017
How Telematics is Being Used as Inspection Technology to Minimize Loss Exposure
We recently talked about some of the challenges that the property and casualty insurance agency will be facing in 2017, including declining profitability. Aside from weather and catastrophes, one of the biggest reasons for the decline in profitability in 2016 was the increase in auto claims. Because we experienced low gas prices in 2016, more […]
How Insurance Carriers Are Using Smart Home Devices as Inspection Technology
We’ve heard a lot of buzz about how smart home technology can enhance the property owner’s lifestyle. From smart thermostats that “learn” the homeowner’s schedule and temperature preferences to the ability to smart lock systems controlled by a smartphone, there isn’t much that a smart home can’t handle. Inspection Technology Now Includes Smart Home DevicesWhat […]
How Our Value to Insurance Carriers Extends Well Beyond a Property Inspection
It’s anticipated that 2017 will be a challenging year for the property and casualty insurance industry, particularly when it comes to profitability. Carriers that make an in-person property inspection part of their underwriting process will be better equipped to preserve their profit margin. Insurance Risk Services has been helping insurance carriers mitigate risk for more […]
