More Insurance Trends to Watch for Actuaries, Underwriters and Claims Personnel, Part 2
Tuesday, February 15th, 2011More Insurance Trends to Watch for Actuaries, Underwriters and Claims Personnel, Part 2,
by Claude Penland
Insurance Job Losses, Predictive Analytics Use, Health Plan Grandfathering and Other Insurance Trends
These insurance trends continue where the article 20 Insurance Trends to Watch left off.
20. Property and casualty insurance companies increase their use of predictive analytics.
19. Some insurance runoff specialists are growing up fast.
18. Rainfall contracts launched by the CME Group.
17. There are not enough qualified insurance regulators in the United Kingdom. Solvency II is contributing to that employee shortage.
16. United States insurance companies lose 6,000 jobs.
15. The combination of international financial reporting standards (IFRS) and Solvency II will place strain on insurance companies’ balance sheets.
14. Institute of Actuaries of India has plans to expand throughout Asia.
13. US companies’ health plan “grandfathering” with regards to health “reform” is still in flux.
12. Medicaid costs anticipated to increase a lot in several US states.
11. New Hampshire is pushing for more locally-domiciled insurers.
10. CEO’s, CFO’s, Chairmen, Presidents, CIO’s, General Counsels and COO’s are very well paid among the largest ten property and casualty, health and life insurers: a compensation comparison.
9. The Asian reinsurance market could consolidate.
8. Virtual insurance, such as crop insurance in FarmVille, might be on the rise.
7. Insurance claims adjusters and lawyers are using social networks for investigations.
6. Sinkholes in Florida are becoming an insurance problem.
5. Medical malpractice costs increasing.
4. Automobile insurance claims costs in the United Kingdom are rapidly rising.
3. Saudi Arabian health insurance premiums increasing 30% per year.
2. Mortality improvements may slow within a few decades.
1. The Canadian insurance-linked securities market should grow.
