The Connected Podcast

Alan Demers and Stephen Applebaum
  • 5.0 (2)
  • BUSINESS
  • UPDATED DAILY

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. 6H AGO

    Class Action Filings Spike 25%

    The Connected Podcast - Insurance Ecosystem News Welcome to The Connected Podcast Exploring the Latest Developments in the Insurance Ecosystem In the latest episode of The Connected Podcast, the hosts explore recent shifts in the insurance and legal landscapes. The discussion begins with a detailed analysis of Lex Machina's latest report, highlighting a 25% increase in class action litigation filings for 2025, driven by a 50% rise in consumer protection cases, now representing over 60% of these lawsuits. This trend underscores the rising significance of digital commerce and data privacy issues, particularly at the state level. The report points out that a concentrated group of attorneys and law firms, including Gottlieb and Associates, Milberg, Stein Saks, and Jibrael S. Hindi, manage a substantial number of these cases, with a notable focus on accessibility issues under the Americans with Disabilities Act.   Shifting to the insurance sector, the segment discusses Travelers' impressive first-quarter profit, credited to strong underwriting gains and a decrease in catastrophe-related losses, like those suffered during the previous year’s Los Angeles wildfires. Travelers' underwriting gain reached $1.17 billion, standing in stark contrast to a $305 million loss the previous year, benefiting from a milder catastrophe season.   Lastly, the podcast turns its attention to Canada, where an anticipated record-hot summer raises wildfire concerns. Canadian insurers, such as Intact Financial and TD Insurance, are advocating for tougher building standards to counteract increased claims and rising home insurance premiums linked to climate-induced weather events. As the insurance industry adapts to climate risks, there is a push for government policies to incorporate climate resilience in housing strategies.   The episode also delves into a recent controversy in the insurance industry triggered by new regulations from Insurance Commissioner Ricardo Lara. These regulations restrict public oversight of premium increases in home, auto, and business insurance, sparking strong criticism from groups like Consumer Watchdog. Critics argue this move benefits insurance companies at the expense of consumer protections, potentially undermining California’s Proposition 103, which has historically ensured rate change transparency, recently saving policyholders $530 million in a settlement with State Farm.   The discussion shifts to technological advances in the industry, highlighting the transition to agentic AI from traditional RPA systems. This shift promises innovations like touchless claims and autonomous underwriting, aiming to alleviate industry pressures. However, challenges such as outdated legacy systems and data quality issues present significant hurdles. Insurers failing to adapt risk obsolescence as AI-native ecosystems emerge.   The podcast also explores political debates surrounding AI, noting Congress's mixed reactions of excitement and concern. Issues discussed include AI's role in federal data security, military decision-making, and content creation, with ethical concerns about its energy consumption and potential misuse being prominent. Lawmakers struggle to balance AI's benefits and pitfalls, emphasizing the need for careful, proactive regulation.   In this episode of The Connected Podcast, we explore several dynamic developments in the insurance ecosystem. The episode begins with the trailblazing partnership between American Family Insurance and the Collision Engineering Career Alliance. As the

    12 min

  2. 1D AGO

    Severe storm losses stay above $50 billion for third year

    The Connected Podcast: Navigating the Future of Insurance In this episode of The Connected Podcast, the discussion centers on key developments in the insurance ecosystem, highlighting severe storms as the primary drivers of insured disaster losses in the U.S. The Insurance Information Institute reports that since 2023, severe weather events have consistently caused damages exceeding $50 billion annually, with 2025 witnessing losses of $51 billion solely from these storms. Notably, the root causes of these losses extend beyond weather-related factors, as up to 90% of loss growth since 2000 stems from non-climate elements. These include factors like population growth in vulnerable regions, legal disputes, and rising labor and construction costs. Sean Kevelighan, CEO of the Insurance Information Institute, suggests a multifaceted approach to tackling these issues, advocating for legal reforms, strategic land use, resilient building practices, and innovative insurance solutions.   In legislative news, a proposed Senate Bill 1209 in California aims to enhance the authority of the state's Department of Insurance, allowing it to enforce compliance among insurers for violations found during regulatory exams. Currently, enforcement requires separate legal actions beyond the initial examination findings. However, eight insurance trade organizations argue that the bill might allow the Department to circumvent existing regulatory protocols, stressing that examination recommendations should be advisory rather than legally binding.   The segment also examines the expanding role of telematics in the U.S. insurance sector. Initially a niche innovation, telematics has become integral to underwriting, pricing, and customer engagement. The spread of smartphone-based solutions and advanced AI-driven models have eliminated adoption barriers and improved risk assessment accuracy. Significant investments, like those from Cambridge Mobile Telematics supported by Allianz and State Farm, underscore the industry's growth and consolidation. Insurers now focus on evaluating the strategic architecture of telematics platforms, considering how they might shape future outcomes beyond mere data and model accuracy.   In this episode of The Connected Podcast, the hosts explore recent technological and regulatory changes transforming the insurance industry. The episode highlights Vertafore's introduction of the Velocity AI Platform, designed to infuse AI into the core systems of agencies, MGAs, and carriers. This innovation is intended to improve Distribution Velocity by streamlining and optimizing insurance workflows, allowing the industry to enhance decision-making and relationship-building, according to CEO Amy Zupon.   The podcast also discusses a compelling study by the Claims and Litigation Management Alliance regarding the financial responsibility for AI tools used in defending liability insurance policyholders. The 2026 CLM Litigation Management Study shows a divide among executives, with half feeling law firms should cover these costs, and the other half undecided on the issue.   Additionally, Cloverleaf Analytics has launched its 2026 Insurance Decision Intelligence Platform, which aims to dramatically improve data processing and analytics timeframes, thanks to its sophisticated AI capabilities. This represents another significant advancement in the industry's ability to generate timely insights and optimize operations.   Lastly, the episode touches on regulatory updates from the U.S. National Association of Insurance Commissioners. Discussions focused on implementing the NAIC's Model Bulletin regarding AI usage by insurers and evaluating the AI System Evaluation Tool to aid regulators in understanding AI governance. This collaborative effort seeks to enhance regulatory processes and identify

    13 min

  3. 4D AGO

    AI, Cyber, and Climate Top Strategic Themes for Reinsurers

    In this episode of The Connected Podcast, the hosts delve into transformative developments within the insurance ecosystem, highlighting the themes introduced in the Tech Trend Radar 2026 by Munich Re and ERGO. The discussion focuses on four pivotal areas: artificial intelligence, cyber resilience, climate analytics, and new liability risks. These elements are transitioning from theory to practical implementation, significantly impacting the reinsurance landscape. The hosts emphasize how these technologies are redefining underwriting priorities and operational governance.   A notable initiative in New York City, led by Mayor Zohran Mamdani, introduces government intervention in the commercial insurance market. This effort provides low-cost property insurance for rent-stabilized and affordable housing. By utilizing city capital, the plan aims to offer lower premiums, covering 20,000 homes by 2027, with a goal of reaching 100,000 by 2030. This initiative challenges traditional insurers, raising important questions about market dynamics and regulation.   The episode also sheds light on the high insurance costs faced by New Yorkers, with the average car insurance rate soaring to $4,000 annually. This is the result of the "comparative negligence" system and vague "serious injury" definitions, contributing to a prevalent lawsuit culture and fraud. In 2023, over 38,000 fraud cases were reported, highlighting the urgent need for legal reform to protect consumers and stabilize the market.   Economist Simon Johnson contributes by discussing the potential economic impacts of artificial intelligence. He warns about significant job displacement while advocating for proactive governmental measures to harness AI's advantages. Johnson stresses the importance of equitable distribution of AI-driven economic gains to prevent exacerbating labor market challenges. The episode invites listeners to reflect on how these emerging trends will shape the future of the insurance industry and the broader economy.   In the latest segment of The Connected Podcast, the conversation turns to AI governance within the insurance industry. The National Association of Insurance Commissioners recently convened a forum to deliberate on a regulatory framework for third-party data and model vendors, facing opposition from some industry figures. The strong argument for consistent AI guidelines is spotlighted, enhancing trust and transparency. Franklin Manchester from SAS emphasizes the critical nature of transparent AI frameworks in maintaining model trustworthiness.   The podcast further highlights corporate strategies where AI is integral, particularly at Marsh. President and CEO John Doyle reaffirms AI's key role in automating operations and improving service delivery in a competitive market. Despite pricing challenges, Marsh strategically invests in AI to lead the industry's transformation.   On the partnership front, The General Insurance has become WWE's first Official Auto Insurance Partner, aiming to boost brand visibility through major events like WrestleMania and SummerSlam. With Superstar Rhea Ripley leading the campaign, The General Insurance seeks to engage WWE's extensive audience.   Advancements in underwriting processes using AI are also discussed, with Alex Backart from Feathery highlighting innovations in submission intake. These developments aim to enhance data collection and structuring, boosting efficiency and accuracy. At the InsurTech NY event, such innovations underscore the importance of collaboration in shaping the future of the insurance ecosystem, with Feathery playing a key role.   Guidewire's new AI assistant, ProNavigator, takes center stage in another segment, featuring prominently in core applications like InsuranceSuite and InsuranceNow. This

    12 min

  4. 5D AGO

    U.S. P/C Industry Delivers Best Results in 20 Years

    The Connected Podcast: Insurance Ecosystem Insights Welcome to The Connected Podcast: Navigating the Insurance Ecosystem In the latest episode of The Connected Podcast, we dive deep into the state of the U.S. property and casualty insurance industry as it stands in 2025, a year marked by its best underwriting performance in two decades according to Fitch Ratings. Our analysis unpacks this success story, attributing it to significant improvements in personal lines, consistent commercial performance, favorable reserve development, and notably, a year devoid of hurricane landfalls. Despite experiencing slower premium growth, the industry has maintained robust earnings and capital levels.   Looking ahead to 2026, we anticipate a year of stabilized but moderated performance. The industry may face challenges such as softer pricing trends, routine catastrophic events, and pressures in long-tail casualty lines. These challenges are further compounded by global economic and geopolitical uncertainties. Financial data showcase a rise in net premiums written to $23.6 billion, driven by increasing net investment income. Despite this, an uptick in expenses and a deterioration in the combined ratio present potential roadblocks.   The podcast also brings you the inspiring story of Nationwide, which reported an impressive 37% increase in net operating income and a notable improvement in its combined ratio. These achievements are credited to Nationwide's customer-centric focus on technology-driven risk prevention tools such as water leak sensors and telematics, under the leadership of President and COO Mark Berven. Such initiatives have effectively reduced loss trends, enabling competitive pricing.   We also cover global broker Marsh's strong revenue and earnings growth despite facing challenges due to the costly Greensill litigation, which impacted its GAAP operating income. This development underscores the interconnected risks in global financial systems and the critical need for rigorous risk management and client vetting.   Adding to the conversation, Sean Kevelighan, CEO of the Insurance Information Institute, speaks on the $51 billion in insured losses due to severe convective storms in the U.S. in 2025. He emphasizes the urgency for a comprehensive strategy that includes legal reforms and innovative insurance solutions to manage these escalating losses and ensure the affordability of insurance in vulnerable communities.   In legislative news, the podcast delves into Missouri's House Bill 2324, aimed at regulating the use of telematics data by auto insurers. Sponsored by Rep. Bill Lucas, the bill emphasizes individual privacy rights, requiring drivers' explicit consent before insurers can access their vehicle data, and preventing penalization for non-disclosure.   Exploring the insurtech sector, we discuss March 2026's funding slump, with just $237 million raised compared to February's $1 billion. Nevertheless, significant investments like Paris-based health insurer Alan's €100 million raise indicate ongoing interest in AI and digital infrastructure solutions.   The podcast wraps up with an overview of legal developments, featuring Allstate's RICO lawsuit against a fraud network in Houston over a $8 million auto insurance claim manipulation case, demonstrating the industry's ongoing battle against fraud.   Lastly, we highlight mShift and HSB's collaboration, revolutionizing digital distribution for cyber risk solutions through HSB's Non-Admitted Cy

    11 min

  5. APR 14

    Are ‘Moderate’ Hurricanes Getting Squeezed Out of the North Atlantic?

    In this episode of The Connected Podcast, the spotlight is on the evolving challenges and opportunities within the insurance ecosystem. The discussion kicks off with the 2025 North Atlantic hurricane season, noteworthy for the absence of moderate hurricanes and an increase in high-intensity storms. Experts Scott St. George and James Done link this trend to warming ocean temperatures, prompting insurers to rethink traditional risk assessment models to address the financial implications.   The conversation then shifts to the urgent need for integrating artificial intelligence (AI) into business operations. Despite 92% of companies planning to boost AI investment, only 1% have successfully integrated it. With McKinsey's report emphasizing the immediate need for action, the insurance sector is encouraged to leverage AI to distinguish themselves in a competitive landscape. Moreover, the rising number of legal claims related to AI, as predicted by Gartner, highlights the necessity for new insurance products to mitigate associated risks. Legal leaders are urged to proactively explore AI insurance policies to safeguard their organizations from potential liabilities.   The episode also addresses the looming "silver tsunami" workforce crisis, as numerous insurance professionals near retirement. Norm Hudson advises against sole dependence on AI solutions, advocating for targeted training programs to retain and attract new talent. Finally, the burgeoning demand for insurance in data center construction is identified as a significant growth opportunity. With potential market expansion up to $10 billion by 2026, surpassing the global aviation insurance market, insurers are encouraged to develop specialized products for this sector.   Overall, the episode underscores the pressing need for innovation and adaptation in response to these dynamic industry shifts.   In a recent episode of The Connected Podcast, the focus was on significant trends and developments within the insurance ecosystem, particularly the integration of artificial intelligence (AI) in the industry. AI's incorporation into insurance practices, especially in underwriting and regulatory compliance, is poised to boost productivity by reclaiming time spent on routine tasks, thereby letting underwriters concentrate on complex risk evaluations and client relationships. This shift is prompting a change in the skills required for successful underwriting, with a growing emphasis on expertise, strategic judgment, and relationship-building rather than routine processing.   Moreover, AI's role is no longer confined to large carriers or specialized IT departments. Smaller, independent agencies are increasingly integrating AI into their operations, as evidenced by two-thirds of agencies planning to expand their AI use, according to the Big "I" Agents Council for Technology's Tech Trends Report. AI is proving invaluable in activities like managing renewals more efficiently and maintaining critical client knowledge.   The podcast also delves into the overlooked connection between chronic health conditions and workers' compensation claims. The case of Marie, who unknowingly suffered from Fibromyalgia, highlights how invisible chronic conditions can affect workplace safety and recovery times. The industry is encouraged to recognize these health issues, as they play a significant role in managing claims and ensuring comprehensive employee health support.   In a recent episode of The Connected Podcast, several pivotal developments within the insurance ecosystem were discussed. Sedgwick has launched an innovative national Accident Response Team specifically for the commercial trucking sector to manage accidents more efficiently. This 24/7 rapid response service deploys adjusters to the sce

    13 min

  6. APR 13

    US naval blockade deepening insurance crisiscted'

    In the latest episode of The Connected Podcast, we dive deep into the current news and events shaping the insurance ecosystem, with a particular focus on the profound impacts of geopolitical tensions and technological advancements.   The episode begins by delving into the escalating hostilities involving the US, Israeli forces, and Iran. The tensions, particularly around the Strait of Hormuz, have initiated significant ripple effects beyond military concerns, emphasizing the critical role of the insurance industry in global trade. Following initial airstrikes, marine insurers swiftly canceled coverage and significantly increased war risk premiums, transforming geopolitical tensions into an economic blockade, which led to an 80% reduction in tanker traffic. This scenario highlighted the insurance industry's latent power to influence commercial navigation during geopolitical crises.   We also explore the downstream industry impacts, such as the collision repair sector, which is grappling with higher oil prices and reduced driving habits, leading to fewer collisions. Supply chain disruptions, notably in raw materials like aluminum and helium sourced from the Gulf, are exacerbating production constraints in the automotive and semiconductor industries, impacting costs and repair timelines.   On a broader scale, a recent report by JP Morgan indicates that the reinsurance sector remains resilient. Reinsurers are strategically positioned to handle market softening due to lower-than-usual catastrophe losses expected for Q1 2026. This preparedness underscores the importance of strategic foresight in navigating global uncertainties.   The discussion transitions to significant legislative changes in California's home insurance laws, prompted by frequent and destructive wildfires. State Senator Steve Padilla leads efforts to expedite claims processes, strengthen penalties for non-compliance, and enhance transparency, particularly during emergencies. This initiative aims to establish a more responsive and accountable insurance framework in the face of natural disasters.   Simultaneously, the integration of artificial intelligence (AI) is reshaping the industry, as companies like Hippo pioneer AI-powered claims platforms offering improved accuracy and efficiency. A recent survey notes that 71% of insurance executives view AI as a top strategic priority, reflecting a move towards practical implementation despite ongoing challenges in fully embracing AI's potential.   The podcast also addresses the emerging issue of AI liability risks, particularly for small and medium-sized enterprises adopting AI without fully understanding its implications, drawing parallels to the early cyber risk landscape. This scenario suggests an urgent need for insurers to develop explicit coverages to manage these new risks effectively.   In another segment, we discuss Allstate’s innovative "Just Enough" auto endorsement plan, aimed at lowering premiums by limiting coverage in specific scenarios. Introduced in Maryland, Mississippi, and Nebraska, this plan signifies a shift towards more customizable and bare-bones insurance options. This approach is underscored by Allstate's recent trademark filing, suggesting a trend towards modular coverage supported by digital tools.   The discussion further highlights the complexities surrounding modern vehicle configurations, with over 600,000 unique car setups emerging in 2025 alone. While this customization benefits consumers, it presents significant challenges for insurers who rely on outdated vehicle identification models, potentially leading to undervalued claims.   Additionally, we highlight several property and casualty insurance firms that appe

    13 min

  7. APR 10

    A ceasefire won't reopen the insurance market – not yet

    The Connected Podcast The Connected Podcast Exploring News and Events in the Insurance Ecosystem In this episode of The Connected Podcast, we delve into the dynamic world of insurance, addressing recent technical issues, impactful international events, transformative business developments, and groundbreaking innovations in technology—each shaping the future of the insurance industry.   We start off with a message to our listeners regarding a temporary technical issue with our Curated platform, which momentarily halted the delivery of 'Connected' daily issues. Rest assured, our team is actively working on a solution. Meanwhile, listeners can still access the Connected Archives for past issues.   Turning to international news, we discuss a significant two-week ceasefire with Iran that spurred a 12% drop in oil prices and an uptick in the stock market. However, the response at Lloyd’s of London remained muted due to the intricate web of geopolitical events impacting insurance. A blockade of the Strait of Hormuz amplified these challenges, fueled by increased war risk premiums following strikes by the U.S. and Israel, which significantly reduced tanker traffic.   In the business world, Sentry Insurance's acquisition of The General from American Family Insurance for $1.7 billion marks a historic industry milestone, enhancing its foothold in the non-standard auto insurance market. Sentry will transition its operations under The General brand, phasing out the Dairyland name by mid-2026, and ensures policyholders that no changes will occur in rates or coverage. Current staff in Nashville are set to join the Sentry family.   Exploring transformative trends, the podcast shines a light on the rise of usage-based insurance (UBI) and advancements in AI technology. With UBI shifting from niche to mainstream, over 21 million U.S. policyholders now share telematics data driven by trust and value—beyond just competitive pricing. A survey by Arity and the IoT Insurance Observatory shows high telematics app recommendation rates for safe driving rewards, highlighting growing trust and positive sentiment.   The episode also introduced Alice FNOL by ICE-Tech, a 24/7 AI claims agent built on OpenDialog’s conversational AI. Alice FNOL is poised to transform first notification of loss processes by streamlining claims intake, enhancing data accuracy, and improving customer experiences.   However, scaling AI remains problematic across property insurance, with 82 percent of carriers using AI but only 7 percent successfully implementing it at scale. Legacy infrastructure poses significant challenges, necessitating better AI integration to unlock full potential and resolve operational inefficiencies.   The episode continues by addressing challenges like the National Flood Insurance Program's (NFIP) $22.5 billion debt due to catastrophic hurricane seasons, impacting real estate and the property and casualty sector at large. The podcast also highlighted the significant valuation gap in auto insurance due to outdated actuarial models, potentially leading to a $15,000 discrepancy per vehicle amid fluctuating used-car prices and repair costs.   AI's role in fraud detection is explored as a double-edged sword—enhancing underwriting while also arming fraudsters with sophisticated tools, such as AI-generated fake identities. Insurers must evolve strategies amidst this intensifying technological arms race.   Finally, key developments at Progressive Insurance and Chubb Limited showcase strategic advancements with technology and leadership at the forefront. Progressive renewed its long

    13 min

  8. APR 9

    WHY INSURANCE COSTS KEEP RISING, AND WHAT ACTUALLY HELPS LOWER THEM: APCIA CEO Says

    Welcome to The Connected Podcast, your go-to source for the latest news and events shaping the insurance industry landscape. In this episode, we delve into pressing topics that are redefining the insurance ecosystem. Join us as we explore the intricacies of rising insurance costs and the forces driving premium rates across the nation.   David Sampson, President and CEO of the American Property Casualty Insurance Association (APCIA), sheds light on the factors influencing these trends, such as market exits, natural disaster losses, and rising construction costs. With these challenges persisting nationwide, we discuss potential strategies for industry stabilization, encouraging policyholders to secure affordable coverage proactively.   Unveiling Catastrophe Trends: The dominance of secondary perils, including wildfires and severe convective storms, has taken center stage in the 2025 catastrophe headlines. Alarmingly, these perils account for a significant 92% of global natural catastrophe insured losses, totaling USD 107 billion. The Los Angeles wildfires alone contributed around USD 40 billion in insured losses. As Swiss Re forecasts a potential rise in insured losses to USD 320 billion by 2026, an emphasis on adaptation and risk mitigation becomes essential, especially with growing population and asset values increasing exposure.   Weathering the Storm: In anticipation of the Atlantic hurricane season of 2026, AccuWeather forecasts 11 to 16 named storms, with up to seven hurricanes and possibly four major ones. Despite the developing El Niño potentially reducing storm formations, preparedness remains crucial as even a few impactful storms could result in significant damage.   The Rise of Agentic AI: Discover the transformative role of agentic artificial intelligence in the insurance sector, where unprecedented efficiencies are introduced. Unlike its predecessors, this AI autonomously plans and executes workflows, potentially reducing the standard 32-day claims processing time to mere hours. This innovation promises significant relief to policyholders while boosting operational efficiency for insurers grappling with escalating catastrophe severity and rising customer demands.   We also delve into the unfolding legal case of Otter.AI Privacy Litigation, drawing attention to the issue of consent in AI transcription tools. This U.S. District Court case in the Northern District of California has implications for businesses using AI notetakers, stressing the need for careful navigation of differing consent laws across jurisdictions, as highlighted by Bradford Kelley from Littler Mendelson.   Workplace Wellness: Addressing workplace health, we spotlight the hefty financial impact of musculoskeletal disorders (MSDs) on U.S. businesses, with losses amounting to $1 billion weekly. Prevention technologies are gaining traction, particularly when employees are involved in their implementation, effectively addressing injuries and enhancing well-being using wearable sensors and computer vision.   Liberty Mutual Insurance's Commitment: We highlight Liberty Mutual Insurance's announcement of a $600 million endowment to its foundation, marking a substantial investment in community support initiatives such as housing stability, workforce development, and climate resilience. This move underscores Liberty Mutual's ongoing commitment to corporate civic responsibility, reflecting the insurance sector's capacity to promote positive community change.   Furthermore, we address how natural disasters alongside general and social inflation are driving claims costs, particularly in high-risk asset areas. Insurers are encouraged to streamline operations and refine

    10 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
    538
  • Rating
    Clean
  • Copyright
    © 2026 The Connected Podcast
  • Show Website
    The Connected Podcast

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