In comparison to other industries, the property and casualty insurance industry has been a slow adopter of technology. Some of this can be blamed on carriers that prefer to operate as they always have. Another reason is the aging population of insurance agents. Research shows that the average insurance agent is 59 years old, and […]
We’re currently experiencing a crowded and highly competitive market for property and casualty insurance carriers. We’ve talked about how the industry is evolving and how insurtech companies are transforming the insurance space. This increased competition is making it more challenging for carriers to reach profitability goals. However, some carriers are shifting their focus from writing […]
Hurricanes Harvey and Irma have caused billions of dollars in damage over the past few weeks, resulting in a historic humanitarian disaster. The flooding that Harvey brought to homeowners in Texas was especially devastating as many of the affected properties did not have flood insurance as they were outside of the hundred-year floodplain. Although the […]
We are most certainly in the midst of hurricane season. It’s estimated that Hurricane Harvey will inflict as much as $30 billion in damages on homeowners. While the effects of Harvey are devastating, Hurricane Irma is projected to cost insurers up to $65 billion in claims. A private homeowner’s insurance policy will typically cover wind […]
We’re delighted to announce that Insurance Risk Services will rebrand to Davies in the near future.
