The Connected Podcast

Alan Demers and Stephen Applebaum

Co-curated by Alan Demers and Stephen Applebaum, The Connected Podcast is a daily scan of all the happenings in the world of Insurance & InsurTech News.

  1. 22H AGO

    Root's record-setting financial performance and capital strength

    Welcome to The Connected Podcast, your go-to hub for the latest happenings in the insurance ecosystem. In this episode, we dive into some major developments reshaping the industry landscape, focusing on the impressive financial performances, strategic initiatives, and technological advancements by industry leaders.   Root, Inc. stands out with a remarkable 29% revenue growth and a 30% boost in net income in 2025 under the visionary leadership of CEO Alexander Timm. Their success is largely attributed to a tech-driven approach and strategic alliances, particularly with major partners like Toyota. This partnership underscores the growing trend of embedded insurance via APIs.   Meanwhile, Hippo is making waves with a 24% rise in gross written premiums coupled with an improved combined ratio, thanks to disciplined risk management and strong reinsurance support. In contrast, Lemonade continues its impressive growth streak with a 31% increase in in-force premiums. Their AI-centered strategy has resulted in a 73% boost in gross profit and strategic workforce optimizations.   While Hippo and Lemonade employ different strategies, both leverage the power of technology to foster sustainable growth, highlighting the evolving landscape of data-driven insurance solutions.   On the flip side, we explore some challenges within the industry. Driven Brands Holdings Inc., the parent company of the CARSTAR collision repair network, is dealing with a significant decline in share value due to substantial financial reporting errors. These discrepancies span from issues surrounding lease accounting to incorrect revenue recognition, pointing to the intricate challenges in maintaining financial integrity in large organizations.   In contrast, HUB International exemplifies the positive impact of technology by deploying Anthropic’s Claude AI platform, resulting in an 85% productivity increase for its 20,000 employees. This underscores AI's transformative potential in the insurance realm, as noted by Marc Cohen, HUB's president and CEO.   The episode also delves into labor market trends, citing the latest Insurance Labor Market Study by The Jacobson Group and Aon's Strategy and Technology Group. Despite nearly half of the carriers planning for headcount growth, job openings in finance and insurance have hit a decade low. This points to a growing reliance on automation and technology for efficiency gains.   We discuss the role of Artificial Intelligence in the industry further, noting that while two-thirds of independent agents plan to increase AI usage, many face challenges like resource constraints and data privacy concerns. Kasey Connors from ACT points out that the fear of implementing AI incorrectly is more significant than its cost.   Additionally, the concept of Agentic Commerce is explored, where AI transitions from making recommendations to independent decision-making. This progression raises valid questions about accountability in an evolving $10 trillion 'Agentic Economy.'   The episode also covers a major legal development, as State Farm files a lawsuit against a New York medical group for allegedly orchestrating a large-scale fraud scheme, emphasizing ongoing challenges with fraud in the insurance sector.   Lastly, we touch upon the integration of smart home technology within the insurance industry. With nearly half of U.S. internet households owning smart devices, there is a growing expectation for seamless, tech-driven services. Industry expert Carly Fetzer from Bestow highlights the need for insurers to update legacy systems to meet these demands.  

    13 min

  2. 1D AGO

    State Farm Mutual Announces $5 Billion Cash Back to Auto Customers Through Largest Dividend in Company History

    The Connected Podcast Description The Connected Podcast: Latest News and Events in the Insurance Ecosystem Welcome to another insightful episode of The Connected Podcast, where we focus on the latest developments within the insurance ecosystem. In this segment, we delve into State Farm Mutual's extraordinary announcement of a $5 billion cash back dividend for its auto customers. This groundbreaking decision highlights State Farm's strong financial posture as a mutual organization with a policyholder-first approach.   With an average dividend of about $100 per vehicle, this initiative will impact policyholders across 49 million vehicles, depending on factors like state and premiums. Driven by improved underwriting performance and reduced collision frequencies, this move forms part of a larger strategy that also saw a 10% average premium reduction, saving customers $4.6 billion annually.   State Farm's 2025 financial results emphasize its solid performance with earned premiums of $111.6 billion and a net income of $12.9 billion. The company's resilience is further demonstrated by addressing $78 billion in claims, including $15 billion from catastrophe claims, notably aiding recovery from the 2025 California wildfires.   On the global stage, Munich Re surpassed its 2025 targets, reporting a net result of €6.121 billion, driven by strong performances in its reinsurance segments. Despite a slight decrease in Q4 results, Munich Re's strategy remains focused on sustained profitability with stable growth in return on equity and earnings per share.   This episode also highlights Allianz's robust 2025 performance, with a 6.5% rise in Q4 business volume and a record-high operating profit of €17.4 billion for the year, mainly fueled by the Property/Casualty sector. Additionally, Hagerty, Inc. achieved a remarkable 17% revenue increase and a 91% rise in net income, foreseeing continued growth through a member-centric approach and strategic partnerships.   The U.S. property/casualty sector experienced its best year in a decade, despite challenges such as the California wildfires. However, AM Best warns of potential challenges in 2026 due to stabilizing rates and increasing claims costs, which could strain industry margins.   We also discuss key events and trends in the cybersecurity sector. The InsurTech America Symposium (IAS) 2026 is poised to feature Mo Tooker as keynote speaker, drawing insurance leaders to foster innovation on April 13th and 14th in Hartford.   Recent research from Amazon underscores a worrying rise in cyber breaches, with hackers using AI tools to target over 600 firewalls globally. Resilience's 2025 Cyber Risk Report also reveals shifting threat patterns with long-term impacts and data theft-induced extortion, urging more resilient strategies to combat advanced threats.   The Connected Podcast, hosted by Alan Demers and Stephen Applebaum, provides an indispensable audio summary of the daily 'Connected' newsletter. It keeps you informed about the dynamic changes in the insurance and InsurTech sectors, perfect whether you’re on the move or relaxing. Discover Pulse Podcasts for transforming written content into engaging audio, potentially enhancing your business communication strategy by reaching audiences through captivating audio experiences.   Subscribe to The Connected Podcast to stay updated, and explore the opportunities Pulse Podcasts offer for transforming your content strategy.

    13 min

  3. 2D AGO

    2026 Conning Insurance Investment Risk Survey: U.S. Insurers Optimistic Despite Increased Headwinds

    Welcome to the latest episode of The Connected Podcast, where we delve into the most pressing news and events in the insurance ecosystem. This week, our discussion pivots around the evolving investment landscape for U.S. insurers as we approach 2026, with insights from the Conning Insurance Investment Risk Survey. Despite a turbulent macroeconomic climate characterized by high inflation, liquidity risks, and anticipated low Federal Reserve interest rates, the outlook remains optimistic. Insurers are eyeing growth opportunities through private markets, high-quality fixed income, and infrastructure investments. The survey, which involved 201 decision-makers from U.S. property and casualty (P&C) and life insurance companies, suggests that inflation is expected to rise moderately, with the 10-year Treasury yield staying below 3.5%. The Federal Open Market Committee's actions will be crucial in strategy shaping.   In the P&C sector, the year 2025 was marked by successful rate increases and investment income; however, AM Best warns of a potentially challenging 2026. With rates plateauing and economic factors such as rising claims costs due to increased material prices, there may be financial pressures ahead. The industry's combined ratio and loss ratio are anticipated to rise, indicative of emerging challenges.   In contrast, Hippo Holdings Inc. serves as a beacon of success with stellar financial performance in 2025, reporting substantial increases in both gross and net written premiums. Transitioning from a net loss to a net income, Hippo has demonstrated improvements in its net loss and combined ratios through strategic initiatives such as expanding its homeowners business. CEO Rick McCathron expresses confidence in Hippo's growth trajectory, aiming for considerable gains in gross written premiums and net income by 2028, indicating a promising future within the insurance industry.   We also spotlight the remarkable performance of Hiscox Re in 2025, featuring a pre-tax profit increase to $286.7 million, a 7% rise from the previous year, and an improved combined ratio of 67.4%. Despite a 5% rate decline due to competition, the reinsurance business saw a 6% growth in written premiums to over $1 billion, buoyed by net growth and expanded third-party capital support, especially in pro-rata and specialty lines.   The Sentry 2026 C-Suite Stress Index Survey reveals a dichotomy among business leaders, with prevailing optimism about business growth but increased stress reported by 60% of respondents. Legal challenges affect 93% of businesses, and 69% of leaders are concerned about closures due to large verdicts. Key risks for 2026 include supply chain issues, economic pressures, and cyber threats, prompting cautious payroll strategies.   On the digital front, Cake & Arrow’s report examines friction in insurance design, identifying role, offering, and mission friction as major barriers to seamless digital experiences. These obstacles arise from ambiguous user roles, disjointed product offerings, and conflicting internal priorities, complicating user experiences. CEO Josh Levine advocates for alignment with user workflows to avert workarounds and inefficiencies.   In legislative and industry news, the Risk and Insurance Management Society (RIMS) is focusing on third-party litigation funding (TPLF) in 2026, which allows external investors to fund lawsuits in exchange for a share of the settlement. RIMS is pushing for increased transparency and restrictions on foreign investments in U.S. civil litigation to protect businesses from unwarranted legal costs.   ReSource Pro has launched a new Partnership Program to enhance collaboration across technology and insurance secto

    12 min

  4. 3D AGO

    US P&C industry sees decade-high performance in 2025, Economy Grows Despite Emerging Headwinds

    The Connected Podcast - Insurance Ecosystem Insights The Connected Podcast: Insights into the Insurance Ecosystem Welcome to the latest episode of The Connected Podcast, where we delve into the dynamic world of insurance, exploring the latest news and events reshaping the industry. Join us as we examine how various players are navigating challenges, leveraging technology, and seizing opportunities in the evolving insurance landscape.   This episode kicks off with a comprehensive look at the U.S. property and casualty (P&C) insurance sector's impressive performance in 2025. Driven by disciplined underwriting and strategic investment gains, the sector achieved an estimated $39 billion net underwriting income. Despite facing significant challenges such as the California wildfires, the combined ratio improved to 95.0, indicating healthier profit margins. However, AM Best highlights potential risks from stabilizing rates and severe catastrophes that could impact future results.   Personal lines such as private passenger auto and homeowners’ segments continue to thrive, contributing to the sector's profitability. Yet, as the commercial lines like workers’ compensation bolster financial results, commercial auto and liability sectors confront ongoing challenges. Amidst this, the U.S. economy demonstrates robust growth with GDP projections signaling promising economic resilience.   The CIAB's Q4 2025 Market Index sheds light on the shift towards a soft market phase, revealing a slowdown in P&C premium growth. While many segments see declining premiums, commercial auto and umbrella coverage demonstrate resilience, driven by increasing claim costs and social inflation.   Globally, 2025 witnessed $108 billion in insured losses, with Kin Insurance standing out for its remarkable growth. Achieving a record $634.4 million in Gross Written Premiums, Kin showcased a 49% operating margin by focusing on high-LTV customers, demonstrating the benefits of long-term strategic planning.   We also spotlight innovations in flood risk management, highlighting Collaboration between Floodbase and Liberty Mutual. This partnership launched a parametric flood insurance quoting application, addressing underinsured flood losses and transforming the commercial insurance space.   Artificial intelligence (AI) emerges as a game-changer in risk management strategies. Insurers leverage AI to proactively mitigate risks, with companies like Zürich Insurance adopting property intelligence integrations for enhanced underwriting. Similarly, Allstate combats no-fault insurance fraud using RICO lawsuits, targeting exploitative fraud rings.   Furthermore, Ohio Mutual Insurance Group partners with Convr to future-proof insurance operations through advanced AI-driven solutions, streamlining workflows to improve client experiences and reinforce their market position.   Lastly, we celebrate Carpe Data's 10th anniversary and strategic advancements with Glenn Shapiro's appointment as chairman. Shapiro's leadership and expertise in claims transformation position Carpe Data to tackle modern insurance challenges with efficiency and innovation.   Tune in to this episode of The Connected Podcast for an in-depth exploration of the insurance industry's transformative journey, where innovation meets opportunity, reshaping th

    9 min

  5. 4D AGO

    'Potentially Historic Blizzard' Ongoing For Northeast

    In this episode of The Connected Podcast, we explore major transformations occurring in the insurance industry, particularly focusing on the integration of AI and the remarkable financial gains reported by key industry players.   As of 2026, AI has moved beyond pilot stages to full-scale implementation in insurance operations, enhancing efficiency in underwriting, claims, and customer service. A prime example is Roots, which saw a 68% increase in AI inquiries and a 40% boost in AI agent deployments in 2025, underscoring AI's crucial role as an operational tool. We also highlight Zurich Insurance Group's outstanding financial performance in 2025, with a 17% increase in net profit and substantial growth in operating results and gross written premiums. Another major insurer announced record net earnings of 4.8 billion USD, attributed to strong underwriting profits and solid performance across all segments. The episode concludes with insights from Jennifer Palmieri, Chief People Officer at Westfield, who suggests a potential new role—Chief People-AI Officer—as AI reshapes human resource dynamics. To remain relevant, HR leaders must integrate AI strategies with workforce planning and cultural advocacy.   Overall, the insurance sector's future leaders will be those who adeptly incorporate AI and strategic foresight into their operations. The discussion then shifts to the shifting landscape of the insurance industry in North America, highlighting key challenges and innovations. According to Gallagher Bassett’s report, insurers are grappling with a rise in claim costs due to social and medical inflation, increased catastrophe losses, economic instability, and rapid AI adoption. The report reveals that 64% of North American insurers have experienced heightened claims complexity, particularly impacting general liability, property, and auto sectors. This complexity stems from social inflation and increased litigation pressures, necessitating strategic reinsurance adjustments. Medical inflation is a significant cost driver, with 56% of insurers citing it as the primary factor. Workers’ compensation is particularly impacted, as medical expenses now comprise over 60% of costs in the US. Additionally, demographic shifts and a growing focus on mental health add further complexity. In auto insurance, LexisNexis reports record market activity in 2025, with a notable surge in engagement among consumers aged 66 and above. Insurer strategies must adapt to this demographic's growing interest to capitalize on the resulting opportunities.   The episode also spotlights Qumis, an InsurTech innovator revolutionizing the sector with AI-driven solutions. Having secured $6.75 million in funding, Qumis stands out for its AI system, which is trained by attorneys to provide advanced coverage intelligence. This development signifies a broader industry trend towards integrating advanced AI tools to enhance decision-making and efficiency in insurance coverage analysis.   The podcast examines proposed legislation, SB 1301, which could transform how Californians secure homeowners and renters insurance, particularly those impacted by fires. The bill focuses on enhancing consumer protection through increased transparency, mandating insurers to provide a six-month notice before policy nonrenewals and requiring clear reasons for such actions to enable consumers to address potential issues. Carmen Balber from Consumer Watchdog highlights the importance of this initiative in safeguarding consumer rights. The conversation then shifts to the Insurance Information Institute's campaign against "legal system abuse," aiming to reduce the burden of excessive litigation on insurance costs. This effort advocates for tort reform to discourage practices like "litigation tourism," which inflates costs through strategic lawsuit

    13 min

  6. FEB 20

    Progressive's growth engine downshifts as auto insurance competition tightens

    The Connected Podcast: News & Events in the Insurance Ecosystem The Connected Podcast: News & Events in the Insurance Ecosystem In this segment of The Connected Podcast, we delve into recent developments within the insurance industry, focusing on notable shifts and performances from key players including Progressive Corporation, Allstate Corporation, Lemonade, and Westfield Specialty.   Progressive Corporation's growth trajectory is witnessing a slowdown as they enter 2026, with a modest 4% increase in net premiums written, marking a departure from previous robust double-digit growth rates. Despite this, their net income rose to $1.2 billion, with a stable combined ratio indicating a more sustainable expansion phase.   Allstate Corporation faced $175 million in catastrophe losses in January due to Winter Storm Fern but maintained stable growth with a 2.2% year-over-year increase in policies. Their auto and homeowner policies showed slight gains, reflecting steady expansion amidst challenging conditions.   Lemonade showcased significant performance improvement in the fourth quarter of 2025. Although reporting a net loss, their in-force premium surged by 31%, driven by strategic changes in their reinsurance structure and significant customer growth. This led to a 53% revenue increase and a notable spike in gross profit.   Westfield Specialty ended 2025 on a high note, with a gross written premium of $1.93 billion and a strong underwriting income of $87.2 million. Their success is attributed to a strategic focus on talent acquisition and empowering underwriters, strengthening their diversified portfolio and emphasizing underwriting profitability.   Overall, these developments signal strategic pivots and expansions that position these companies for future growth within the evolving insurance landscape.   In a recent episode of The Connected Podcast, the discussion centered around significant developments in the insurance ecosystem. Hyundai has announced its entry into the car insurance market with the launch of "Hyundai Secure+." This new venture, detailed in their latest U.S. Patent and Trademark Office filing, involves providing insurance underwriting and administration for property and casualty insurance, including automobile coverage. This strategic move comes shortly after a $9 million settlement concerning anti-theft devices, but it is largely driven by economic motivations, as indicated by former Hyundai Capital executive Guillermo Francisco Cornejo. Hyundai aims to cut down on the rising car insurance costs by handling insurance internally, potentially offering savings through dealerships.   In contrast, USAA is implementing initiatives to ease financial pressures on American families. The organization is reducing auto insurance premiums for about half of its members, with certain adjustments leading to significant savings. USAA's President and CEO, Juan C. Andrade, has reinforced their commitment to stabilizing rates and providing financial support to military families, even returning $3.8 billion in financial rewards last year.   Lastly, the podcast touched on state insurance regulators preparing a multistate pilot for a new AI system evaluation tool developed by the National Association of Insurance Commissioners (NAIC). This initiative responds to the industry's growing use of artificial intelligence over the past decade, aiming to ensure fairness, transparency, and consumer protection. Colorado, Maryland, and Virginia are among the states expected to participate, reflecting a balance between innovation and regulatory oversight in the insurance field. &

    11 min

  7. FEB 19

    AI jitters overshadow otherwise solid Q4 P&C earnings

    The Connected Podcast Description The Connected Podcast: Navigating the Insurance Ecosystem In this segment of The Connected Podcast, the spotlight is on the latest developments in the insurance ecosystem during an especially turbulent earnings season for the US property and casualty sector. Initially buoyed by a median EPS surpassing expectations, stocks eventually witnessed a downturn due to concerns around AI-driven broker disintermediation. These fears were underscored by the launch of Insurify's ChatGPT-based "super-agent" app, which ignited significant sell-offs for major brokers like Willis Towers Watson and Aon.   On the other hand, Europe's Zurich Insurance surpassed market expectations with robust results from its property and casualty unit. However, shares dipped slightly due to higher-than-expected P&C expenses. CEO Mario Greco remains positive about exceeding 2027 targets with a core return on equity surpassing 23%.   The LexisNexis Insurance Demand Meter indicates a flourishing U.S. auto insurance market, showcasing rising shopping activity and new business growth, particularly among individuals aged 66 and older. The direct channel leads shopping activity, while the exclusive agent channel experiences its first positive growth in 2025.   This episode also explores two pioneering advancements in AI adoption within the insurance sector. The first is The Travelers Companies, Inc.'s AI Claim Assistant, which signifies a leap forward in claims management by leveraging OpenAI's cutting-edge technology to manage auto damage claims efficiently. The system, merging advanced analytics with human expertise, aims to streamline customer interactions and improve the claim filing experience.   The second milestone is Zywave's Winter 2026 Release, showcasing the insurance industry's first AI agents, designed to boost productivity and growth by transforming generalists into specialists. By automating routine operations, the AI tools empower professionals to focus on meaningful client interactions. Chris Whitney from Sterling Benefits lauds the system for facilitating outreach and lead nurturing, enabling more engaging client conversations.   In addition, the segment delves into the National Association of Insurance Commissioners (NAIC) strategic initiatives aimed at enhancing state-based regulation through 2026. These initiatives focus on refining capital, investment frameworks, and developing a sophisticated data architecture to strengthen regulatory oversight and risk assessments.   The upcoming Scout InsurTech Conference on May 26, 2026, is also in focus, poised to serve as a networking hub for insurtech startups, MGAs, and prospective partners in Columbus, Ohio. Known for its rapid growth in innovation and networking, registration for the conference is up by 63% from the previous year.   Furthermore, the podcast highlights Aquiline Capital Partners' sale of Relation Insurance Services to BayPine. Under Aquiline's ownership, Relation significantly expanded by completing over 100 acquisitions, enhancing its specialty services across various sectors including construction, healthcare, and real estate.   Additionally, the discourse emphasizes key trends in risk management, property protection, and fraud prevention. With climate disasters increasingly impacting property damage, there's a heightened emphasis on risk management and home protection. Diane Delaney from the Private Risk Management Association underscores the importance of elements like roof age and storm

    13 min

  8. FEB 18

    Why Record-Breaking Snowfall Is Occurring Under Climate Change

    The Connected Podcast The Connected Podcast: Navigating the Insurance Ecosystem In this episode of The Connected Podcast, we delve into the pressing trends and pivotal changes shaping the insurance ecosystem. Our discussion begins with an examination of how global warming is paradoxically leading to record-breaking snowfalls in certain regions, like Japan. This phenomenon, driven by warmer air's capacity to hold more moisture, results in heavier snowfalls when that moisture is released as precipitation in colder climates. We emphasize the crucial need for residents in these regions to reassess preparedness measures and adjust their insurance policies accordingly.   We also explore the impact of extreme weather on the travel industry, as revealed in the Redpoint Travel Protection's 2026 Traveler Risk Report. With weather disruptions becoming a practical certainty, travelers are now prioritizing flexibility. This shift urges insurers to innovate and offer new products that cater to these adaptive travel insurance needs.   From a business perspective, we highlight Mercury General Corporation's robust handling of wildfire impacts, which is reflected in their improved financial performance. This case underscores the importance of effective risk management. Meanwhile, Bayer's Monsanto unit's proposed $7.25 billion settlement to resolve cancer claims related to its Roundup weedkiller demonstrates an effort to mitigate future litigation risks.   Additionally, we discuss how the insurance category of strikes, riots, and civil commotion (SRCC) has undergone significant transformations over the past decade, with insured losses exceeding $8 billion between 2020 and 2024 due to heightened civil disturbances. This rise necessitates revised risk assessment models to confront these challenges tied to socio-political changes.   Transitioning to the transformative role of AI, the episode uncovers the groundbreaking use of generative AI at American International Group (AIG). Insights from AIG’s Investor Day reveal unexpectedly rapid advancements in AI usage, which have enhanced underwriting capacity, reduced operating costs, and streamlined portfolio integration.   We continue the exploration of AI with the introduction of Artificial Labs' new venture, AgLabs, aimed at pushing AI boundaries in the specialty and commercial insurance sectors. AgLabs' focus on agent-to-agent coordination (A2A) offers promise for enhancing workflow efficiency while preserving human oversight in decision-making.   In addition, the podcast examines the insurance industry's M&A landscape, showcasing Enstar Group's acquisition of Accident Fund Holdings, better known as AF Group. This acquisition aligns with ongoing consolidation trends and reflects AF Group's reported financial growth.   The episode concludes by exploring litigation financing and the effect of third-party litigation funding (TPLF) on the insurance sector. Westfleet's publications aim to illuminate this emerging "shadow legal market," which could potentially escalate insurance costs through increased fraudulent claims. Experts Brian Allen and Michele Hibbert from Enlyte discuss the need for balanced regulatory oversight to protect both insurers and consumers.   The episode wraps up with insights from Hi Marley, which reviewed over 380,000 claims messages to identify "moments that matter" between adjusters and policyholders. These moments are crucial for improving efficiency, reducing cycle times, and enhancing customer

    11 min
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Ratings & Reviews

5
out of 5
2 Ratings

About

Co-curated by Alan Demers and Stephen Applebaum, The Connected Podcast is a daily scan of all the happenings in the world of Insurance & InsurTech News.

Information

  • Creator
    Alan Demers and Stephen Applebaum
  • Years Active
    2024 - 2026
  • Episodes
    510
  • Rating
    Clean
  • Copyright
    © 2026 The Connected Podcast
  • Show Website
    The Connected Podcast