Entry Details

About the Entry

Category: 
Overall Excellence > Magazine of the Year > 11 or Fewer Issues per Year

Title of entry: 
Carrier Management Magazine of the Year

Issue or Publication date:
2024: Quarter 2, Quarter 3 and Quarter 4

Publication name: 
Carrier Management

View Website home page:
https://www.carriermanagement.com/

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Entry Essay: 
Carrier Management Magazine aims to help set the management agenda for high-level property/casualty insurance industry executives who aspire to be better leaders, managers, and citizens. The publication informs business strategies and guides leaders toward their successful execution.

As CM Executive Editor Susanne Sclafane and her team brainstormed content for Carrier Management's second-quarter 2024 edition, with features about inflation and how it affects property/casualty insurance carriers and insurance uses of artificial intelligence, she tied together two important trends: AI and social inflation. With different incentives driving their investments, plaintiffs’ lawyers will likely be quicker than defense attorneys to adopt technology, including generative AI tools, to assess case potential, speed up legal research, write demand packages and more. While neither side has tapped the full potential yet, examples of tech companies giving AI-driven support to personal injury lawyers are already popping up.

In the face of ongoing global unrest and a historical election year, with elections being held in more than 50 countries across the globe, insurers discuss how the industry is rethinking coverage in risk areas such as strikes, riots and civil commotion, war, and cyber, in the third quarter edition of Carrier Management. Insurers and reinsurers are responding to heightened risks of civil unrest with better calculations of their probable maximum losses, careful risk pricing, clear contractual wordings, and by using new modeling tools to help grasp this potentially costly risk. In the first article, experts told Deputy Editor Elizabeth Blosfield how geopolitical turmoil and conflict is keeping insurers on alert and where these coverage areas might be headed as a result. In the second article, International Editor L.S. Howard offers a look at one of the modeling tools, and delivers an underwriter's view of policy and reinsurance contract wordings that need special attention.

The fourth edition dives into how the insurance industry can battle the ongoing battle against social inflation. External fixes like tort reform and third-party litigation funding disclosures are some often-cited methods for reining in escalating jury verdicts and settlement values that continue to worry liability claims professionals and insurance industry executives. But CM asked several executives to look inward instead — at adversarial claims handling tactics in place now that some say are working to inflate social inflation — and to identify industry best practices that will stem the tide of rising claims severity. As generative AI takes the insurance industry by storm, claims experts share how it can be used as a force for both good and evil — for detecting fraudulent claims as well as creating them. They say the key to staying ahead of the criminals who are using AI is to invest in continuous employee training, keep an eye out for traditional red flags of claims fraud, and stay on top of the latest technological advancements.

CM editors supplement the quarterly print magazine that is for subscribers only with an occasional “between-the-quarters” email-only newsletter. CM engages with audiences on social media and also offers podcasts and videos.