January catastrophe reinsurance renewals are in the books. In aggregate, reinsurance renewal outcomes were stable across the U.S. However, as BuildFax predicted a few months ago, catastrophe reinsurance renewals were disproportionally impacted by loss-hit accounts. A recent report from Willis Re found that carriers without catastrophe losses left these discussions with renewal rates that ranged …
Read More
As a result of the hyperactive and catastrophic hurricane and wildfire seasons, the U.S. property and casualty market has seen notable rate hikes in 2018. Premium rates increased 2.5 percent in the second quarter alone, according to MarketScout. However, there is hesitation around whether consistent price hikes are a sustainable strategy in the long term, …
Read More
Discussions around applying artificial intelligence and analytics to insurance were in full gear this week as carriers and industry pioneers, BuildFax included, gathered at Insurance AI and Analytics 2018. The event was focused on the ways in which insurance carriers can leverage analytics tools and insights to meet customer demands as well as their own …
Read More