{"id":316,"date":"2025-01-22T17:52:32","date_gmt":"2025-01-22T18:52:32","guid":{"rendered":"http:\/\/clipcelebrity.com\/?p=316"},"modified":"2025-02-14T16:17:46","modified_gmt":"2025-02-14T16:17:46","slug":"executive-exchange-riskscan-survey-taps-cross-market-viewpoints","status":"publish","type":"post","link":"http:\/\/clipcelebrity.com\/index.php\/2025\/01\/22\/executive-exchange-riskscan-survey-taps-cross-market-viewpoints\/","title":{"rendered":"Executive Exchange: RiskScan Survey Taps Cross-Market Viewpoints"},"content":{"rendered":"<figure class=\"wp-block-image size-full\"><a href=\"http:\/\/clipcelebrity.com\/wp-content\/uploads\/2025\/01\/Exec-Exchange.png\"><img loading=\"lazy\" decoding=\"async\" width=\"831\" height=\"386\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"\" class=\"wp-image-19512 lazyload\" data-src=\"http:\/\/clipcelebrity.com\/wp-content\/uploads\/2025\/01\/Exec-Exchange.png\"><\/a><\/figure>\n<\/p>\n<p>For insurers, \u201ccustomer\u201d is one word that encompasses individual policyholders, business owners, risk managers, agents and brokers, and others, all with different (often divergent) priorities. For reinsurers \u2013 whose primary customers are insurers themselves \u2013 \u201cunderstanding the customer\u201d is particularly challenging.<\/p>\n<p>This was part of the motivation behind <a href=\"https:\/\/insuranceindustryblog.iii.org\/riskscan-2024-reveals-risk-priorities-across-the-insurance-marketplace\/\">RiskScan 2024<\/a> \u2013 a collaborative survey carried out by Munich Re US and Triple-I. The survey provides a cross-market overview of top risk concerns among individuals across five key market segments: P&amp;C insurance carriers, P&amp;C agents and brokers, middle-market business decision makers, small business owners, and consumers. It explores not only P&amp;C risks, but also how economic, political, and legal pressures shape risk perceptions.&nbsp;<\/p>\n<p>\u201cI get very excited when we have a chance to be in our customers\u2019 shoes,\u201d said Kerri Hamm, EVP and head of cyber underwriting, client solutions, and business development at Munich Re US, in a recent Executive Exhange interview with Triple-I CEO Sean Kevelighan. \u201cTo really understand how they feel about a broad range of issues from what are their most important risks to how they feel about the cost of insurance and the economic environment.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<p><iframe loading=\"lazy\" title=\"Executive Exchange with Munich Re\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/RgysUkv4MiU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<\/div>\n<\/figure>\n<p>&nbsp;Hamm discussed how more than one-third of respondents ranked economic inflation, cyber risk, and climate change as top concerns, identifying them as \u201cincreasing or resulting in rises of the cost of insurance.\u201d<\/p>\n<p>\u201cWhen we really understand what our customers want, we can design a better product and think about whether the coverages we\u2019re providing are meaningful to them,\u201d Hamm said. \u201cThat can help us match pricing better to their expectations.\u201d<\/p>\n<p>One result that Hamm found \u201csurprising\u201d was that \u201c<a href=\"https:\/\/www.iii.org\/stoplegalsystemabuse\">legal system abuse<\/a>\u201d didn\u2019t appear to be as widely accepted by respondents \u2013 apart from the insurance professionals \u2013 as driving up insurance costs. Kevelighan cited other research \u2013 including by Triple-I\u2019s sister organization, the <a href=\"https:\/\/www.insurance-research.org\/\">Insurance Research Council<\/a> \u2013 that has found consumers to be aware of the growing influence of \u201cbillboard attorneys\u201d.<\/p>\n<p>Unfortunately, he said, \u201cThey don\u2019t seem to be making the connection with how that\u2019s affecting them. What we\u2019re trying to do at Triple-I is to help them make that connection.\u201d<\/p>\n<p>Kevelighan talked about Triple-I\u2019s <a href=\"https:\/\/insuranceindustryblog.iii.org\/triple-i-launches-campaign-to-highlight-challenges-to-insurance-affordability-in-georgia\/\">education campaign<\/a> around \u201cthe billboard effect\u201d in Georgia. That campaign includes an actual billboard (\u201cTrying to fight fire with fire,\u201d he said), as well as a microsite called <a href=\"https:\/\/www.iii.org\/stoplegalsystemabuse\">Stop Legal System Abuse<\/a>. The campaign focuses on Georgia because the state tops the most recent list of places that the American Tort Reform Foundation calls<a href=\"https:\/\/www.judicialhellholes.org\/wp-content\/uploads\/2023\/12\/ATRA_JH23_FINAL-1.pdf\">&nbsp;<\/a><a href=\"https:\/\/www.judicialhellholes.org\/wp-content\/uploads\/2023\/12\/ATRA_JH23_FINAL-1.pdf\">\u201cjudicial hellholes\u201d<\/a>.&nbsp;<\/p>\n<p>\u201cWe\u2019re trying to help citizens in Georgia see that this is costing you,\u201d Kevelighan said, adding that Triple-I has seen high engagement through the program with people in the state.<\/p>\n<p><strong><em>Learn More:<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/www.iii.org\/article\/legal-system-abuse-state-of-the-risk\">Triple-I \u201cState of the Risk\u201d Issues Brief: Legal System Abuse (Members only)<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/triple-i-launches-campaign-to-highlight-challenges-to-insurance-affordability-in-georgia\/\">Triple-I Launches Campaign to Highlight Challenges to Insurance Affordability in Georgia<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/louisiana-reforms-progress-but-moreis-needed-to-stemlegal-system-abuse\/\">Louisiana Reforms: Progress, But More Is Needed to Stem Legal System Abuse<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/jif-2024-whats-in-a-name-when-it-comes-to-legal-system-abuse-a-lot\/\">JIF 2024: What\u2019s In a Name? When It Comes to Legal System Abuse, A Lot<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/climate-resilience-and-legal-system-abuse-take-center-stage-in-miami\/\">Climate Resilience and Legal System Abuse Take Center Stage in Miami<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/agents-play-critical-role-in-navigating-impacts-of-legal-system-abuse-on-customers\/\">Agents Play Critical Role in Navigating Impacts of Legal System Abuse on Customers<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/legal-system-abuse-social-inflation-adds-costs-and-challenges-for-us-casualty-insurance-am-best\/\">Legal System Abuse\/Social Inflation Adds Costs and Challenges for US Casualty Insurance: AM Best<\/a><\/p>\n<p><a href=\"https:\/\/insuranceindustryblog.iii.org\/whos-financing-legal-system-abuse-louisianans-need-to-know\/\">Who\u2019s Financing Legal System Abuse? Louisianans Need to Know<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For insurers, \u201ccustomer\u201d is one word that encompasses individual policyholders, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance"],"_links":{"self":[{"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/posts\/316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/comments?post=316"}],"version-history":[{"count":2,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/posts\/316\/revisions"}],"predecessor-version":[{"id":319,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/posts\/316\/revisions\/319"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/media\/318"}],"wp:attachment":[{"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/media?parent=316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/categories?post=316"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/clipcelebrity.com\/index.php\/wp-json\/wp\/v2\/tags?post=316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}