I’ll be blunt: Most insurance applications stink. I don’t know who designs them, but whoever it is should be fired – unless you are a conspiracy theorist. If so, then you know insurance applications are written poorly on purpose so insurance companies can later deny claims when insureds provide incorrect answers. This is an important point. For example, a large portion of cyber applications are warranty applications, and yet the questions asked are somewhere between nonsensic

Why can’t carriers generate quality loss runs and underwrite appropriately using those loss runs? I know, I know, they’re just waiting on AI to do all this for them. If that is the case, I strongly recommend all underwriters immediately begin looking for new jobs because your employer is not going to give you AI as an underwriting tool. They’re going to replace you even if they shouldn’t. However, AI cannot work effectively with incomplete and inaccurate data. I was reviewing

Recently, a few of my clients have identified structural issues within agency management accounting systems. I won’t pretend to understand all the technical factors within these systems. The net effect is that gross numbers may be materially overstated while the net numbers are correct. That is a problem, and absolutely no one should ever accept the response, “Well, the net numbers are correct so don’t worry about the gross numbers.” For example, agencies often run aged accou