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

I read the Wall Street Journal daily, and one of my favorite wealth writers, Jonathan Clements, recently passed away. Another columnist, Jason Zweig, wrote two articles about his passing. One included several insightful passages Clements had written regarding human psychology and investing. One that hit home, from April 8, 2007, was, “Think you’re immune to confirmation bias? If you are a regular reader of this column, ask yourself this question: Why do you keep reading my a