|
Hi Friends! As we enter the final week of August and head into Labor Day weekend, I’m starting to get ready for the fall conference season with WSIA Annual Marketplace, ITC Vegas, and the Target Markets Annual Summit on the horizon. In addition to these I will be joining a few regional events close to home. Fall is always the busiest time of year to connect, share ideas, and see how the industry continues to evolve as we all plan for 2026 and beyond. All while we transition to autumn weather, the air cools, leaves turn, and we all push forward to finish a strong year. This week’s headlines reflected that same spirit of momentum—established players making strategic moves, MGAs building out their platforms, and carriers old and new reshaping how insurance connects to customers. Let’s dive in and explore the Three Things We Learned. |
[1] |
Innovation Moves From the Top DownEstablished insurers continue to push forward on innovation, with others quickly following suit. W.R. Berkley rolled out Berkley Edge, a new professional lines unit, while WTW launched a digital facility ‘Gemini’ aimed at reshaping placement. AIG also named a new Chief Digital Officer from tech giant HP. He has spent time outside of insurance but also has experience in insurance and risk management. These moves underscore how carriers remain focused on tech-driven change. On the insurtech side, Roamly introduced an AI-powered carshare insurance platform, and Green Shield Risk Solutions acquired CartoFront to strengthen its tech capabilities. Together, these moves highlight the opportunities that exist within the insurtech segment to remain innovative and open to change while being opportunistic about potential acquisition targets as they emerge in the evolving landscape. |
[2] |
MGAs Keep Expanding Their ReachMGA platforms continue to expand, with the story focused on building scale and specialization. Rokstone unveiled an equine mortality coverage line, further diversifying its agricultural offerings. Pivix took a step into distribution by launching a brokerage division, while Aurenity is expanding their product offerings by naming a new EVP for property. A new entrant, Elevate Specialty, launched with a mission to redefine embedded and specialty insurance. And beyond MGAs, Gallagher closed its acquisition of AssuredPartners—a massive deal that signals continued consolidation and alignment between distribution and specialty underwriting. |
[3] |
Auto Manufacturers and Insurtechs “Survive and Advance”Vehicle manufacturers are increasing their focus on insurance as part of their strategy. Volvo launched its own insurance agency, GM reported Q2 results through its insurance division, and Tesla released results for its carrier subsidiaries. Meanwhile, Progressive continues to show how to turn profits in auto and related segments and how established companies can operate with a startup’s mindset, reporting another strong month. Insurtechs Branch and Clearcover also announced results, demonstrating steady progress on their journey toward profitability. The main message remains clear: whether it’s OEMs developing insurance units or digital carriers striving to improve performance, it all comes down to surviving today to thrive tomorrow. |