{"id":985,"date":"2023-03-25T14:00:57","date_gmt":"2023-03-25T18:00:57","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=985"},"modified":"2023-03-25T04:32:09","modified_gmt":"2023-03-25T08:32:09","slug":"3-things-03242023","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-03242023\/","title":{"rendered":"3 Things – Property Updates, Embedded Specialty & Talent Moves"},"content":{"rendered":"

\"\"<\/p>\n

\n
\n
\n\n\n\n
\n
\n
\n

Hello Friends!\u00a0 Conference season has begun, we attended the E&S Insurer event check out thoughts\u00a0here<\/a><\/strong>.\u00a0 Next week we will be at Insurtech NY, hoping to continue to learn and make connections.\u00a0 Headlines this week include news on the property insurance front, specialty commercial embedded launches and talent additions to existing insurance operations.\u00a0 Here are the three things we learned:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[1]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

Florida Tort Reform & Kin Adds to Series D<\/p>\n

One of the big topics at the E&S insurer conference was that property is increasingly difficult with prevalence of cats and what used to be minor perils (i.e. freeze, derechos) becoming major.\u00a0 Jury verdicts contribute to these challenges so it was meaningful to see\u00a0Florida sign tort reform<\/a><\/strong>\u00a0legislation into law.\u00a0 Among the many changes will be actions to incentivize good faith between parties and eliminating fee multipliers allowing counsels to secure higher fees.\u00a0 Experts hope this will help to increase the availability of insurance over time.\u00a0 Also this week, property insurer Kin was able to add\u00a0$15M to their Series D<\/a><\/strong>\u00a0funding round bringing the total raised to $109M.\u00a0 They are navigating this tough property market with strong renewals boasting a customer lifetime value to customer acquisition cost ratio of 9.6x.\u00a0 2023 will be a year they hope to make the turn to profitability though much will depend on the upcoming cat season.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[2]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

Procore, CompScience, Specialty Launches<\/p>\n

Embedded insurance offerings are becoming more prevalent in specialty and niche lines of business.\u00a0 Procore, a leading provider of construction management software, announced the launch of\u00a0Procore Risk Advisors<\/a><\/strong>.\u00a0 The newly formed specialty broker will use Allianz and Swiss Re paper embedded with their platform and ‘construction expertise, real-time data insights, and technology to unlock better insurance and surety outcomes for builders’.\u00a0 CompScience, provider of AI-powered worker safety tool, Intelligent Safety Platform,\u00a0announced the launch of an MGA agreement with Nationwide<\/a>\u00a0<\/strong>and Swiss Re.\u00a0 \u00a0CompScience has an insurance-oriented management team and this appears to be a big play for Nationwide in the worker’s comp space.\u00a0 Cover Whale will\u00a0tap into the Trusted Choice network<\/a><\/strong>\u00a0to expand distribution of their innovative, tech-enabled commercial trucking insurance.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[3]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

Talent Additions Skyward, Great American & Joyn<\/p>\n

Talent continues to be on the move.\u00a0 Joyn Insurance adds former\u00a0AIG Chairman and CEO Brian Duperreault<\/a><\/strong>\u00a0to their board.\u00a0 Not a surprise as many individuals in the management team have AIG ties but a strong move nonetheless, to bolster their talent as they look to build from a funding event earlier this year.\u00a0 Great American is launching a\u00a0specialty construction operation<\/a><\/strong>, adding an industry veteran.\u00a0 The new unit will launch specialized worker’s comp and general liability products for construction entities in Q2 2023.\u00a0 Skyward continues to expand businesses by hiring an underwriting leader to\u00a0launch a global agriculture<\/strong><\/a>\u00a0unit focused on secondary and reinsurance solutions for food and fiber crops, timber, livestock, bloodstock, aquaculture, and other renewable resources.<\/p>\n

 <\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

Thank you for following us, we appreciate your feedback and continued support. \u00a0Stay productive, stay safe and stay in touch!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hello Friends!\u00a0 Conference season has begun, we attended the E&S Insurer event check out<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wikifri.com\/3-things-03242023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 Conference season has begun, we attended the E&S Insurer event check out\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-03242023\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-25T18:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-25T08:32:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\" \/>\n<meta name=\"author\" content=\"Nick Coenen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Coenen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-03242023\/\",\"name\":\"3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri\",\"isPartOf\":{\"@id\":\"https:\/\/www.wikifri.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\",\"datePublished\":\"2023-03-25T18:00:57+00:00\",\"dateModified\":\"2023-03-25T08:32:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.wikifri.com\/3-things-03242023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage\",\"url\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png\",\"contentUrl\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png\",\"width\":1200,\"height\":627},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-03242023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.wikifri.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"3 Things – Property Updates, Embedded Specialty & Talent Moves\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.wikifri.com\/#website\",\"url\":\"https:\/\/www.wikifri.com\/\",\"name\":\"Wikifri\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.wikifri.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa\",\"name\":\"Nick Coenen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g\",\"caption\":\"Nick Coenen\"},\"url\":\"https:\/\/www.wikifri.com\/author\/nickc\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.wikifri.com\/3-things-03242023\/","og_locale":"en_US","og_type":"article","og_title":"3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri","og_description":"Hello Friends!\u00a0 Conference season has begun, we attended the E&S Insurer event check out","og_url":"https:\/\/www.wikifri.com\/3-things-03242023\/","og_site_name":"Wikifri","article_published_time":"2023-03-25T18:00:57+00:00","article_modified_time":"2023-03-25T08:32:09+00:00","og_image":[{"url":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png"}],"author":"Nick Coenen","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Nick Coenen","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.wikifri.com\/3-things-03242023\/","url":"https:\/\/www.wikifri.com\/3-things-03242023\/","name":"3 Things - Property Updates, Embedded Specialty & Talent Moves - Wikifri","isPartOf":{"@id":"https:\/\/www.wikifri.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage"},"image":{"@id":"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage"},"thumbnailUrl":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png","datePublished":"2023-03-25T18:00:57+00:00","dateModified":"2023-03-25T08:32:09+00:00","author":{"@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa"},"breadcrumb":{"@id":"https:\/\/www.wikifri.com\/3-things-03242023\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.wikifri.com\/3-things-03242023\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wikifri.com\/3-things-03242023\/#primaryimage","url":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png","contentUrl":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png","width":1200,"height":627},{"@type":"BreadcrumbList","@id":"https:\/\/www.wikifri.com\/3-things-03242023\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.wikifri.com\/"},{"@type":"ListItem","position":2,"name":"3 Things – Property Updates, Embedded Specialty & Talent Moves"}]},{"@type":"WebSite","@id":"https:\/\/www.wikifri.com\/#website","url":"https:\/\/www.wikifri.com\/","name":"Wikifri","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.wikifri.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa","name":"Nick Coenen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g","caption":"Nick Coenen"},"url":"https:\/\/www.wikifri.com\/author\/nickc\/"}]}},"_links":{"self":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/985"}],"collection":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/comments?post=985"}],"version-history":[{"count":1,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/985\/revisions"}],"predecessor-version":[{"id":986,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/985\/revisions\/986"}],"wp:attachment":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/media?parent=985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/categories?post=985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/tags?post=985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}