Best's Review Examines Insurance Expense Efficiency and More

The May issue of Best’s Review expands on a recent AM Best report that shows the industry has managed to trim its underwriting expense ratio over the last 10 years:

• “Insurers Find Ways to Decrease the Underwriting Expense Ratio” explains how years of work are finally paying off for carriers through improved efficiency.
• “AM Best: Underwriting Expenses Now Stable” features an excerpt from a Best’s Special Report that says increases in expenses have been offset by commensurate increases in net premiums written.

Also included in the May issue:

• “AM Best: U.S. Life/Health Insurance Companies Impaired by Business Failure, Weak Operations” looks at a recent report that identifies life/health impairments that took place in 2021, as well as those that occurred from 2000 to 2020 but were identified by AM Best in 2021.
• “Insurers on the Front Lines of the War for Talent” describes the scramble to find professionals with technology skills and how the insurance industry stacks up against its competition for the same workers.
• “Counterpart CEO: Chat GPT, AI Leverage Repetition to Analyze Risk” features an edited transcript of an interview with Tanner Hackett of the MGA/MGU about digital and technology innovation in the insurance industry.
• “In the Superhero Universe, the Fight for World Domination Could Come With a Monster Price Tag” answers the question: What would the insured losses be if the destruction wrought by movie heroes and villains happened in the real world?

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. Access to the complete content of Best’s Review is available here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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