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Social Inflation Hitting the Insurance Industry Hard

Social inflation is the rise in insurance claims costs over economic inflation, and Paul Mang, chief innovation officer at Guidewire, writes that it is creating unanticipated claims costs and risks for insurers so that pricing no longer accurately reflects risk. In this article, he discusses the main drivers of social inflation and what insurers need to do to mitigate this growing challenge.
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External Article

Social Inflation Hitting the Insurance Industry Hard

Social inflation is the rise in insurance claims costs over economic inflation, and Paul Mang, chief innovation officer at Guidewire, writes that it is creating unanticipated claims costs and risks for insurers so that pricing no longer accurately reflects risk. In this article, he discusses the main drivers of social inflation and what insurers need to do to mitigate this growing challenge.
Read more

External Article

What matters most to this insurance executive?

For insurers looking to transform their operations with technology, the most important ingredient isn’t even technology at all, argued Sudheendra Galgali (pictured), head of innovation & digitization at American Modern Insurance Group.
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Business Insurance reveals US Insurance Awards finalists

Business Insurance on Friday announced the finalists for the 2022 U.S. Insurance Awards program.
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