The Connected Podcast

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

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. 16H AGO

    US P&C industry achieves best underwriting results in over a decade in 2024

    The Connected PodcastThe Connected Podcast: Exploring Innovation in the Insurance EcosystemIn a recent episode of The Connected Podcast, the focus is placed on significant developments within the insurance ecosystem. The US property and casualty insurance sector reported its best net combined ratio in over a decade in 2024, reaching 96.5%, primarily due to improved underwriting in personal insurance lines. In contrast, commercial lines faced minor setbacks with a slightly increased ratio.   In regulatory news, Florida’s new condominium bill has sparked debate, as it aims to reduce the financial strain of code compliance, although some fear it could discourage necessary maintenance investments. Furthermore, Majesco has thrived since becoming private, more than doubling its revenue and expanding its digital capabilities, thanks to CEO Adam Elster's leadership. Meanwhile, CCC Intelligent Solutions is bracing for the departure of a key executive, Marc Fredman, though the company’s robust financial performance remains promising.   These stories collectively highlight the industry's dynamic shifts and ongoing challenges. In a recent segment of The Connected Podcast, the discussion centered around the intricate dynamics of connection in the insurance ecosystem, highlighting how meaningful interactions extend beyond chance encounters to involve intentional effort. Inspired by a poignant moment during a UCLA performance, where a pianist froze and transformed silence into inspiration, the segment examined the concept of "connectorship," focusing on trust, authenticity, and shared experiences as essential components for effective leadership.   CEO Gary Burnison's insights emphasized the irreplaceable value of human connection, even amidst advancing AI technologies. He shared experiences from his travels, like witnessing the unifying power of music in Mamma Mia!, illustrating the universal bonds formed through shared experiences. In leadership, this translates to prioritizing the human aspects—emotional connectivity with teams, peers, and clients—as these bonds foster a sense of belonging and collective purpose.   The podcast encourages leaders to remember that, although technological efficiency is crucial, it is the cherished moments and emotional connections that truly enrich our lives and drive impactful leadership. In a recent episode of The Connected Podcast, the discussion delved into Progressive's strategic decision to hire 12,000 employees in 2025—a move that challenges the industry's prevailing focus on automation and cost control.   Progressive's approach underscores a commitment to workforce growth as a means to support its operational foundation amidst significant financial and policy growth. This move highlights a human-centric strategy that balances technological advancements with the need for robust staffing to maintain customer acquisition momentum.   The conversation also explored the interplay between empathy and innovation in the insurance ecosystem. Insurance companies are navigating the introduction of AI technologies, which promise to automate routine tasks and enhance human roles. This approach is aimed at preserving the relational aspect of insurance, emphasizing the role of technology in enhancing rather than replacing human interaction.   Overall, the podcast segment illuminated the evolving dynamics within the insurance industry, where empathy and innovation drive a balanced approach to future challenges. In this episode of The Connected Podcast, the discussion centers on the dynamic changes occurring within the insurance industry, with a particular focus on the pivotal ro

    11 min

  2. 3D AGO

    California home insurance costs likely to continue rising for years to come

    Welcome to The Connected Podcast, your go-to source for the latest news and events shaping the dynamic world of insurance. In our recent episode, we delve into key discussions impacting the insurance ecosystem. First, we tackle the home insurance crisis in California, where experts like Michael Wara from Stanford University and David Russell from CSU Northridge provide insights into the challenges and opportunities arising from climate risks. As insurance prices are predicted to soar for the next 10 to 20 years, the focus shifts from affordability to accessibility, urging for capital reinvestment to ensure all residents can be covered, albeit at higher premiums.   Shifting gears, we highlight The Hartford's initiative to bolster small businesses through a $2 million partnership with Main Street America. This collaboration aims to revitalize historic downtowns by offering community grants and launching a virtual accelerator program. Chris Jones from The Hartford underscores the importance of fostering economic growth and community connectivity through these efforts, envisioning both physical and digital resources to nurture small business ecosystems.   In another packed session, we explore the CONNEX 2025 event set for September 23-25 in Nashville, Tennessee, hosted by the Collision Industry Electronic Commerce Association (CIECA). This pivotal industry gathering promises a fusion of innovation and insights, with tours, panels, and discussions featuring industry veterans like Bill Garoutte, Sean Carey, and Devin Wilcox from Lucid Motors. Key topics include the legal landscape of autonomous vehicles, telematics, and cutting-edge paint technology, supported by sponsors such as IAA, OEC, CCC Intelligent Solutions, and Caliber Collision.   Moreover, our discussion takes a deeper look at recent strategic updates from major industry players. Highlighting the strong growth of Zurich Insurance, the turnaround story at Root Inc., and the impressive performance of Kemper Corporation, we provide insights into the strategic moves bolstering financial stability across the sector. Liberty Mutual's remarkable net income results and Porch Group's stock surge following a strategic pivot also capture the evolving landscape of insurance.   Wrapping up, we address the impact of AI technologies and shifting market dynamics on insurance. While Berkshire Hathaway approaches AI's integration cautiously, the sector sees a 15% decline in mergers and acquisitions, reflecting economic uncertainties. Patricks Tiernan's appointment as CEO of Lloyd's of London adds to the change narrative, poised to steer the company through ongoing market evolutions.   Tune in to The Connected Podcast and stay informed on the insurance industry's transformative journey. From California's climate-driven challenges to empowering small businesses and embracing technological advancements, we cover it all. Don't miss out on our in-depth analysis and engaging discussions every week!   Links: California home insurance costs likely to continue rising for years to come, says expert panel The Hartford Donates $2 Million To Main Street America To Remove Barriers For Small Businesses PRESENTERS ANNOUNCED FOR CIECA CONNEX 2025 ANNUAL CONFERENCE | September 23-25 | Hilton Nashville Green Hills Zurich Insurance property and casualty revenue rises, affirms targets | Reuters Liberty Mutual Insurance Reports First Quarter Results Root Builds on First Profitable Year With Reversal of Q1 Loss to Start 2025 Kemper Corporation - Kemper Reports First Quarter

    14 min

  3. 4D AGO

    (Re)defining Empathy in Insurance

    In this episode of The Connected Podcast, we delve into the dynamic world of insurance, exploring how empathy and innovation are reshaping an industry traditionally rooted in caution. A decade after the buzz of insurtech commenced, skepticism still surrounds "insurance innovation." This podcast unpacks these perceptions and highlights how empathy, backed by technologies like AI, is crucial in transforming customer service. While some executives champion AI to support human interaction rather than replace it, discussions reveal the critical issue of trust in life insurance. Studies show a gap between insurers' promises and customer perceptions, with a small percentage finding policies straightforward and effective. The podcast suggests that technology, when combined with human touch, could enhance processes and communication, paving a path to increased client trust and reliability.   The conversation transitions to AI's role in disaster response and overall operations within the industry. AI has improved efficiency in claims processing and underwriting, though it lacks empathy—a factor critical in emotionally sensitive scenarios. A study by KPMG calls for increased AI regulation, underscoring the need for insurers to blend technological efficiency with compassionate customer interactions.   We then spotlight Lemonade, an AI-centric digital insurer, celebrating remarkable financial performance with In Force Premiums surpassing $1 billion in the first quarter of 2025. Despite challenges from wildfires in California, Lemonade's growth trajectory continues, focusing on achieving positive EBITDA by 2026. Co-Founder Shai Wininger attributes this success to leveraging technology for sustainable profitability.   Additionally, Munich Re and ERGO’s Tech Trend Radar 2025 outlines emerging technologies poised to shape the insurance landscape, helping insurers enhance client experiences and operational efficiency. This strategic framework underscores the need for maintaining human-centric values alongside technological advances.   AI's transformative impact is again discussed as rapid advancements introduce both opportunities and challenges. Insurers are rapidly adopting AI to manage and understand risks, yet regulatory bodies struggle to keep pace, establishing guidelines for responsible AI application. Concerns over AI’s "black box" nature and transparency prevail, although experts remain optimistic about its potential to generate trillions in economic activity. Notable contributions from CyberCube suggest transformational opportunities, forecasting a future rich with innovation within cyber insurance.   The episode also covers CCC Intelligent Solutions' role in the World Economic Forum's AI Governance Alliance, highlighting efforts to align AI innovations with global ethical frameworks. CCC's AI-powered platform, CCC Intelligent Experience Cloud, exemplifies advancements in automating claims and damage assessments, illustrating the importance of pairing AI with ethical guidelines for societal benefits.   Another segment unravels the workforce challenge known as the "Silver Tsunami," anticipating retirements among experienced claims adjusters, potentially disrupting operations. Companies increasingly turn to solutions like Agentic AI, automating tasks to support productivity and retain institutional knowledge amidst generational shifts.   The podcast also highlights AI’s role in collision repair and sustainability, with insights from Solera's Bill Brower. Solutions like Sustainable Estimatics track carbon emissions, enabling both insurance entities and repair shops to assess and minimize environmental impacts.   In recent financial updates, the insurtech sector witnessed a robust start to the year, raising $1.3 billion, with AI-focused companies

    16 min

  4. 5D AGO

    The most sweeping disruption facing a mature U.S. industry

    The Connected Podcast: News and Events in the Insurance Ecosystem The Connected Podcast: Navigating the Insurance Ecosystem In a recent episode of The Connected Podcast, the discussion focused on the evolving landscape of the insurance ecosystem, highlighted by key insights from the Berkshire Hathaway annual shareholder meeting in Omaha. Ajit Jain, vice chairman for insurance operations and Geico architect, alongside Warren Buffett, addressed the transformative impact autonomous vehicles will have on the auto insurance industry. Jain predicts a significant shift from traditional auto insurance, which primarily covers human errors, to product liability insurance as self-driving cars become more prevalent. This shift will navigate insurance towards covering manufacturers and tech companies responsible for autonomous vehicle systems rather than individual drivers.   Additionally, the segment captured a moment of Warren Buffett's characteristic humor and humility. Reacting to a critique in the book Billion Dollar Lessons, Buffett candidly reflected on his USAir investment as his worst, while humorously suggesting he might outdo himself with a future blunder. This anecdote emphasizes Buffett's resilient leadership style, which could serve as a model for the insurance industry as it adapts to rapid changes.   Moreover, Berkshire Hathaway reported a significant $1.3 billion decline in net underwriting earnings for the first quarter of 2025, largely due to catastrophic losses from Southern California wildfires. These events notably impacted the company's property and casualty reinsurance sector, resulting in after-tax losses of approximately $860 million. This situation underscores the insurance industry's challenge in navigating both natural disasters and technological innovations. As the sector confronts these dual challenges, insurers' adaptability will prove crucial in maintaining financial stability amidst such volatility.   In this episode of The Connected Podcast, we explore the intricate dynamics of empathy and innovation in the insurance sector. The discussion begins with innovation, a concept propelled by the insurtech movement that has inspired insurers to adopt new strategies and titles, and launch labs and corporate venture funds. Despite these advancements, skepticism remains prevalent as many so-called "transformational" breakthroughs fail to deliver substantial progress.   The conversation then shifts to empathy, particularly in the claims process, where the growing use of conversational and generative AI sparks debate. Many industry leaders advocate for a balanced approach, using AI for automation of routine tasks to allow human employees to focus on more meaningful interactions, thus preserving the relationship-driven essence of the business. This ideal scenario would see data being connected in new ways for quicker and more cost-effective solutions, keeping human involvement central.   We also delve into the current surge in market consolidation, particularly among third-party administrators (TPAs), driven by over $20 billion in private equity investments in late 2024. Despite fewer deals due to economic uncertainty, the high value of these transactions highlights the attractiveness of TPAs for their growth potential and efficiency. TPAs must strategically expand their services or specialize in niche markets to remain competitive in this evolving landscape.   Lastly, the podcast examines the challenges of workforce evolution in the claims industry amidst a generational shift and talent

    11 min

  5. 6D AGO

    Auto Insurance Market Stays Rational Despite Improved Trends, Says Allstate

    The Connected Podcast: News and Events in the Insurance Ecosystem The Connected Podcast: News and Events in the Insurance Ecosystem In the latest episode of The Connected Podcast, the focus is on significant developments within the insurance ecosystem. The discussion begins with insights from Allstate Corp.’s CEO, Tom Wilson, who indicates that the era of aggressive auto insurance price hikes may be over for now, as the industry shifts towards maintaining profitability over market share. This suggests a broader trend of strategic stability in the sector.   The podcast then explores the uncertainties posed by global tariff fluctuations, particularly highlighted by AIG's CEO, Peter Zaffino. With tariffs potentially affecting international commerce, the insurance sector must stay agile to adapt to these macroeconomic changes, though specific impacts remain uncertain at this stage.   Additionally, the episode covers S&P Global's decision to spin off its Mobility division into a standalone public entity. CEO Martina L. Cheung explains this move allows S&P Global to concentrate on its core competencies, like credit ratings and analytics, while the new Mobility entity focuses on innovation and growth within the automotive data and technology sector. This strategic shift positions both entities for targeted expansion and operational refinement.   Overall, the podcast underscores the delicate balance of pursuing profitability and strategic growth amidst a backdrop of industry stabilization, economic unpredictability, and continual adaptation.   In this episode of The Connected Podcast, we explore intriguing developments within the insurance ecosystem, starting with insights from the Swiss Re Institute regarding the role of natural coastal habitats in mitigating flood losses. Coastal ecosystems like coral reefs and mangroves significantly reduce flood insurance losses from lower-severity storms, such as Category 3 hurricanes, particularly demonstrated in Florida between 2009 and 2022. Swiss Re's analysis highlights that these habitats can cut the frequency of insurance claims by as much as 65%, underscoring their function as natural barriers that diminish wave energy and storm surge impacts. In areas rich with these habitats, insurance claims during floods drop drastically, showcasing their protective value.   The episode then shifts focus to the area of auto insurance, sharing the story of Ana Staples, a driver facing a 50% hike in her insurance rate despite having a clean record and driving a modest 2016 Chevy Volt hybrid. This situation is not uncommon, as drivers nationwide are witnessing annual increases of $625 on average, irrespective of their good credit scores and clean records. Michael DeLong from the Consumer Federation of America explains that insurers often consider factors beyond driving history, including socio-economic and geographic elements, which can lead to higher premiums for traditionally low-risk drivers. This episode sheds light on the complex dynamics affecting insurance costs and challenges faced by policyholders.   In this segment of The Connected Podcast, the hosts explore significant changes underway in the insurance sector due to the integration of artificial intelligence (AI). As AI becomes an essential part of various industries, it brings new risks that traditional insurance often fails to cover, prompting innovative solutions. The Chaucer Group, in collaboration with Armilla AI, has launched a novel insurance product to address AI-related liabilities such as hallucinations and model drift, highlighting the need for fresh perspectives on risk management.   In another development, UnitedHealth

    8 min

  6. MAY 5

    Warren Buffett shocks shareholders by announcing his intention to retire at the end of the year

    The Connected Podcast on Insurance Ecosystem News & Events The Connected Podcast: Insurance Ecosystem News & Events In a recent episode of The Connected Podcast, the focus was on notable developments within the insurance ecosystem. The segment opened with the surprising announcement from iconic investor Warren Buffett, who plans to retire as CEO of Berkshire Hathaway at the age of 94, recommending Greg Abel as his successor. This marks a significant transition for Berkshire, as Buffett also underscored global economic challenges, such as the impact of tariffs, which Abel will need to navigate upon taking the helm.   Berkshire Hathaway has shown resilience in the stock market, outperforming the S&P 500 with an 18% increase in shares, illustrating its strong economic role. Geico, one of its key assets, reported a substantial underwriting profit in early 2025, driven by increasing premiums and policies, despite some uptick in loss expenses.   The segment also highlighted growth in the insurtech space, focusing on Chicago-based Kin. The company expanded its insured value to $100 billion by 2024, attributing this success to improved loss ratios and a broadened geographical reach, including high-risk areas like California. This diversification strategy reduces risk exposure and aligns with Kin's mission to support underserved homeowners.   Overall, the podcast emphasized the importance of adaptability and strategic foresight in the insurance industry, showcasing how both established giants and innovative newcomers are navigating complex challenges and opportunities.   In the latest episode of The Connected Podcast, the hosts discuss significant events and developments in the insurance ecosystem. The segment opens with a focus on the inaugural ClimateTech Connect conference in Washington, D.C., where nearly 450 leaders from various sectors gathered to address climate resilience and innovation challenges. Founder Megan Kuczynski highlighted the diverse perspectives and dynamic atmosphere of the event, particularly the pitch competition showcasing innovative global startups. The conference marked an important step in collaborative climate change solutions.   The podcast then explores the waves of innovation within the insurance industry, as outlined by Insurance Thought Leadership. It details the evolution from the initial Insurtech movement, which aimed to enhance customer experiences inspired by tech giants like Amazon, to the COVID-19-driven digital transformation. The current wave centers on generative AI, which is revolutionizing data processing and customer interactions, promising better efficiency in handling insurance claims.   Finally, the hosts discuss a legal case involving State Farm's vehicle valuation practices, particularly regarding the determination of actual cash values (ACVs). The case highlights ongoing disputes over State Farm's valuation methods and the complexities of insurance regulations. The Ninth Circuit's ruling emphasized the multiple pathways available to insurers under Washington's regulations, illustrating the intricate regulatory landscape insurers must navigate.   In a recent episode of The Connected Podcast, the transformative role of artificial intelligence within the insurance sector was explored. With a striking 99% of insurers currently investing or planning to invest in Generative AI, the industry is poised for significant advancements in operational efficiency, decision-making, and customer service. Studies suggest that GenAI could reduce payouts by up to 4% and cut loss-adjustment ex

    14 min

  7. MAY 2

    California, Florida, and Texas lead the way as property and casualty premiums climb to $780 billion

    The Connected Podcast: Insurance News and Events The Connected Podcast Exploring News and Events in the Insurance Ecosystem In the latest episode of The Connected Podcast, we dive into significant developments within the insurance ecosystem alongside related cultural events. Our journey begins with an insightful analysis of the U.S. property and casualty insurance market, where California has emerged as the leading state, boasting a substantial $94 billion in direct premiums, closely followed by Florida and Texas. The overall market has expanded to $780 billion in 2024, reflecting a steady increase after the 2022 dip caused by inflation-induced claim severities. This includes a notable $15 billion surge in claims attributed to the rise in used car prices.   Shifting focus from statistics to the arts, the podcast sheds light on a unique cultural event—the debut of "Luigi the Musical" in San Francisco. This dark comedy, inspired by true crime, dramatizes the alleged murder of UnitedHealthcare CEO Brian Thompson by Luigi Mangione. The production mimics Sondheim's style, offering a satirical exploration of justice and fame, bringing in characters like Sam Bankman-Fried to enrich its narrative.   The episode proceeds to tackle the burgeoning issue of longevity, highlighting predictions of a quadrupling centenarian population in the U.S. by 2054. A stark contrast emerges between increasing life expectancy and the adequacy of financial planning. Current research indicates a significant risk for retirees in outliving their savings, an issue exacerbated by market volatility and economic pressures. Our discussion urges a critical reassessment of retirement strategies, emphasizing the need for robust, long-term financial solutions to address these longevity challenges.   In another segment, we spotlight noteworthy developments like the evolving landscape of the car rental industry, where the length of rentals (LOR) has marginally fallen to 16.7 days in Q1 2025, continuing a downward trend from 17.6 days in 2024. This trend highlights the lingering impact of the pandemic on vehicle production and supply chains, contrasting significantly with pre-pandemic figures.   The technology sector delivers exciting news as Insurants AI launches an innovative tool to streamline submission processing through automation. This tool, which has been trained extensively on commercial insurance documents, aims to improve data accuracy for underwriters by automating information extraction. Laurence Trigwell, Chief Revenue Officer of Insurants AI, emphasizes its role in enhancing efficiency and allowing insurance professionals to focus on crucial underwriting decisions.   The podcast also delves into a strategic partnership poised to revolutionize commercial auto insurance. This alliance between Nexar, a frontrunner in AI-powered mobility, and High Definition Vehicle Insurance (HDVI) seeks to integrate advanced dashcam technology into HDVI's insured fleets. This collaboration promises improvements in fleet safety and simplified claims processes amid challenges like rising loss ratios and fraudulent claims. The AI-enabled dashcams provide real-time collision insights and expedited claims resolutions, offering HDVI clients added benefits like exclusive discounts on Nexar's hardware. Together, they aim for a more intelligent, efficient approach to risk management and safety without complicated installations or high initial costs.   Our recent segment centers around the changing dynamics of mergers and acquisitions (M&A) in the insura

    13 min

  8. MAY 1

    Capgemini: Demographic Shifts Force P&C Insurers to Evolve

    The Connected Podcast - News & Events in the Insurance Ecosystem The Connected Podcast - News & Events in the Insurance Ecosystem In the latest episode of The Connected Podcast, we delve into the transformative changes within the global property and casualty insurance industry, as highlighted in an insightful new Capgemini report. This episode reveals significant demographic shifts, predicting that by 2050, for the first time, the global senior population will outnumber the youth (excluding Africa). Such demographic evolutions carry profound implications for the insurance sector, including an increased dependency ratio and intensified urbanization, which contribute to creating dense risk hotspots.   Consumer behaviors are evolving as well, transitioning from ownership to experience-seeking, compelling insurers to rethink their structures in risk assessment and service delivery. Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit, indicates that the aging demographic will further drive urban migration and influence changing preferences, prompting a necessary reevaluation of insurance frameworks.   The industry is presented with both opportunities and challenges, such as the need for innovation with new products for the aging population and the development of novel risk assessment models for urban areas. Embracing this shifting landscape is crucial for stakeholders to effectively manage risks and seize new opportunities.   In a recent segment, we focus on dynamic shifts in the auto insurance ecosystem. Erie Insurance topped the customer satisfaction charts in the J.D. Power 2025 U.S. Insurance Shopping Study amidst significant consumer activity mainly driven by soaring rates earlier in the year. Despite a reduction in the rate of premium increases to under 2% by late 2024, consumers actively searched for better deals, with an unprecedented 57% exploring new options—a significant rise from 49% the previous year.   Stephen Crewdson from J.D. Power noted that the initial months of 2024 saw some of the steepest rate hikes in decades, prompting consumers to reassess their policies. As rates stabilized, the ongoing search for economic solutions sparked interest in embedded insurance, particularly from Gen Y and Z. This model, offered through auto dealers or manufacturers, promises convenience and has emerged as a new frontier for insurers.   The study also highlighted that a third of auto insurance shoppers are interested in bundling with homeowners' policies, creating opportunities for insurers to build long-term customer loyalty with attractive bundles. Additionally, a mild resurgence in usage-based insurance reflects a consumer shift towards personalized insurance options driven by telematics.   In a strategic market move, Experian partnered with Root Insurance to expand its Insurance Marketplace, aiming to meet rising consumer demand for technology-driven and personalized insurance solutions, facilitating a smoother transition to Root Insurance via Experian's platform. Rakesh Patel from Experian emphasized that this collaboration supports their mission to promote financial well-being with competitive insurance offerings tailored to consumer needs.   We also explore significant developments in the insurance and financial sectors, including the acquisition of Zelros by Earnix. Known for its advanced AI platform, Earnix aims to revolutionize the insurance industry by integrating predictive and generative AI throughout the insurance cycle, enhancing precision in pricing and underwriting.

    17 min
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Ratings & Reviews

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out of 5
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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 - 2025
  • Episodes
    313
  • Rating
    Clean
  • Copyright
    © 2025 The Connected Podcast
  • Show Website
    The Connected Podcast

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