Abi Clough

Macroeconomic Issues Affecting the Insurance Industry Pressures continue to build for the global insurance industry. The insurance and risk management industry tends to mirror macroeconomic conditions, so during times of recession the industry struggles. Insurtechs and traditional insurers are always looking for new ways to reduce expenses and increase profits.
Optimizing the staff and resources it already has, insurance companies often leverage existing solutions beyond their usefulness. Thi...

Socotra leaders share key insights, including how partnerships in a connected ecosystem are the next wave in insurance.
ITC2022 is in our rearview mirror, but the insights gathered remain in focus. In this recap, Socotra CMO, George Ravich, and Director of Product Marketing, Kim Tambo, reflect on their key takeaways and learnings.
Interconnected Ecosystems Drive Innovation Forward
Partnerships and collaborations were key themes that emerged from the discussions at ITC2022. The new insurance e...

Trucking claims can be challenging to manage. Many companies are self-insured or have high self-insured retentions, which means they have to manage their own commercial claims. But trucking companies are in the business of distributing goods, not handling claims. This means complicated — and expensive — trucking claims can quickly spiral out of control.
When companies don’t have the right tools, they waste time and money with inefficient processes. And with claims management, the stakes are h...

High net worth individuals and c-suite company executives may make more attractive targets for traditional kidnapping schemes. Still, anyone who may have access to a few dollars, or a mobile phone, can be a target for express kidnappings.

Express kidnappings are when a small ransom is immediately demanded to secure an individual’s release, sometimes from an employer or family. But often, the victim is brought to an ATM and forced to withdraw funds, then left somewhere in the city. Victims usu...

Everything changed in our world after the pandemic, including the way we live, travel, recreate, and work. People who worked their entire careers from an office building were suddenly thrust into remote working arrangements in home offices, dining rooms, and dens — often with spouses and children also trying to use the same space for learning and working.
And for those already working from home or telecommuting, there was still a transition as coworkers scrambled to adapt and companies strugg...

Insurers and risk managers are uniquely positioned to play an important role in fighting the silent risk of human trafficking.
In a testament to the power of the topic, the room was filled with engaged attendees in the late afternoon session on the last day of RIMS 2022 at the George R. Moscone Convention Center in San Francisco.
The group of risk management professionals were gathered to listen to Marisa A. Trasatti, partner at Cipriani & Werner, talk about a disturbing, but all too real sub...

Parametric insurance is a newer product gaining popularity among consumers in the marketplace. It has several interesting use cases and is growing within the risk and insurance industry. Because of this, agents and brokers should know about parametric policies and how they can complement traditional insurance coverage.
Read on to learn more about parametric insurance coverage and how it works with traditional insurance coverage.
What Agents Should Know About Parametric Insurance Coverage
You ...

COVID-19 accelerated the use of technology in claims. But a human touch is still necessary.

Insurance has always been a people business — the industry is built on relationships and helping people through times of need.

In the past, field adjusters traveled to meet claimants, viewed property damages in person, examined damaged homes and vehicles, and wrote reports while talking with claimants. If a lawsuit was filed, insurance representatives, attorneys, and policyholders went to hearings in p...

Sexual harassment in medicine is pervasive. Working with your risk manager and insurer can help end it.
Sexual harassment in any workplace can quickly create an uncomfortable and unsafe environment.
But some industries, like medicine, seem to face more instances of sexual harassment than others.
Incidents of sexual harassment in health care at academic institutions and teaching hospitals can set the tone for a health care worker’s entire career, shaping whether they will report incidents of a...

Transform yourself and your organization with this powerful new change management resource.
Life After Leaping In: Change Management in a Changing World is an epic journey through change, taking the reader through a year filled with monumental transformations.

Author Abi Potter Clough skillfully shares stories about relocation, loss, love, survival, and heartache as she learns lessons on change management, resilience, grit, and how to survive life after leaping in.

Verisk and the American Property Casualty Insurance Association have released the first quarter 2021 results.
2021 has proven to be an interesting year so far for the property and casualty insurance industry, and challenges and successes are likely to continue.
Global supply chain issues, natural catastrophes and the COVID-19 Delta variant continue to challenge us in new ways.
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Carriers and agents have had to be creative to help policyholders through this tumultuous year.
Verisk ...

A gig worker is someone who makes their living outside the traditional, 9-5 full-time job with other sources of income. Gig workers are contractors, freelancers, and independent workers. They own their own businesses and may have several streams of income. Some gig workers earn their living through digital means, others do more physical tasks – and some do a combination of each.
Typical gigs include dog walking and pet sitting using platforms like Wag! and Rover; driving for transportation ne...

Technological advances in the insurance industry have exploded in recent years through creative insurtech tools. Customers demand faster, more innovative experiences delivered through digital solutions. Insurtech solutions are changing how traditional insurance companies do business by using low code business process automation and low code robotic process automation (RPA) to reduce expenses and improve processes.
Staying competitive in a dynamic industry like insurance means using digital to...

Having a gym, pool, or fitness center can be a risky endeavor, but when your main clientele is children, your risks increase in unique ways. Children are adept at finding dangerous situations and testing them – remember watching your baby as she learned to roll over and remembering life just got a lot more complicated now? How about when your toddler started running with reliable speed – suddenly outpacing you with surprising agility and velocity – and you realized your front yard by the stre...

The aviation industry is rebounding after COVID-19 but it may never look exactly like it did pre-pandemic.
The aviation industry was struck hard by COVID-19 issues around the world as passenger and commercial air traffic was grounded. People weren’t traveling, and supply chain disruptions meant consumer goods weren’t moving, either.
The FAA forecasts carrier profitability and other issues will continue to be impacted for several more years following the effects of COVID-19 on the global air t...