InnSure

A new memorandum of understanding between NOAA: National Oceanic & Atmospheric Administration and the Reinsurance Association of America (RAA) underscores the need for and importance of public sector and private sector collaboration in insuring and protecting communities against the increasing weather risks associated with climate change. We're happy to see NOAA and RAA engaging in exactly the kind of cross-industry collaboration that InnSure strives to facilitate to better understand risk and enhance community resilience. #InnSure #insurance #insuranceindustry #publicsector #privatesector #collaboration #publicprivatepartnerships #insuranceforclimate

Join Cleantech Group's newest event, "Adaptation and Mitigation: New Innovation & Venturing Opportunities for a 2° World" on September 10 in Boston! The one-day event will be a great opportunity for leaders in the ecosystem to explore this imperative theme affecting our world, businesses, and everyday life. Participants will also have easy access to start-ups, scale-ups, investors, and multinationals from across the sustainable innovation ecosystem. InnSure's own Managing Director, Christopher Lowell, CPCU, MBA, will be speaking at the event during the "Insuring Against Climate Risk: The Role of Innovation" panel session from 11:45 am - 12:05 pm. Visit Cleantech Group's website for more information and to register: https://lnkd.in/eCfeBbfh. If you use the code "AdaptationJoin", you can save 15% off! #innovators #investors #adaptation #mitigation #climaterisk #insurance

Earlier this month, Charlie Sidoti sat down with Grace Crane of Digital Insurance to discuss high insurance rates in the U.S. and how they impact communities across the country. They covered three ways to close the growing protection gap — community-based insurability planning, uninsured loss modeling, and group insurance purchasing, which Charlie explains in this quote from the article: "The other way you can shape prices is for a community to purchase insurance for the whole community as a group, and you get the power of the purchasing for the homeowners in the community. It's not easy. It's not traditionally done, but there's been some pilots, and that is a way to really get the attention of the industry. It shifts the power from just the industry setting rates and on an individual house for one year, to a community getting coverage together." Check out the full article below! ⬇️ #InnSure #protectiongap #catastropheinsurance #communityinsurability #communityresilience #groupinsurance #insuranceforclimate #collaboration #innovation

Last year, US home insurers recorded a $15.2 billion net underwriting loss, the highest this century and more than double the previous year's losses. Natural disasters, inflation, and population growth in high-risk areas are pressuring the insurance market, leading to reduced market presence and increased premiums. With climate change exacerbating severe weather, it feels as though these industry losses—and thus articles—are becoming ever more common. Article by Ian Smith at Financial Times https://lnkd.in/eJQhTqd2

Insure Equality, one of InnSure's partner organizations, is holding a summit in Chicago, IL on August 26-27! The Insure Equality Summit is a place for creativity and coming together. Built on what could be, the IE Summit focuses on creating space for conversations around topics we don't often hear about in insurance but impact us all, like mental health, grief, and our need for community. It's time to bring everyone together and reimagine what's next for the insurance industry. Join Insure Equality, industry leaders, young champions, and students from around the globe as they gather under the theme of "A Shift in Systems" and focus on what insurance can be. Visit Insure Equality's website for more information and to register: https://lnkd.in/gHYCB39z. When you register, use the code IMWITHTHEBAND for 30% off your ticket price! #InsureEquality #InsureEqualitySummit #InsureEqualitySummit2024

Why does the insurance industry struggle to innovate? I'm excited to share my latest article, “Insurance’s Unscientific Age,” where I explore the challenges of innovating in the insurance sector. From numerous conversations with colleagues, it's clear the struggles are pervasive, but what can we do to fix them? In this first of a TBD-part series, I examine why the industry struggles to conduct experiment-based research. Despite growing risks like climate change, cyber threats, and more that demand bold solutions, data shows the insurance industry lags in R&D spending compared to other sectors. To find solutions, we need a culture of curiosity and investment in the unknown. If you're interested in learning more and finding solutions, check out the article in the link below: 🔗 https://lnkd.in/gX6PmbTr #InsuranceInnovation #ResearchAndDevelopment #Technology #FutureOfInsurance #Innovation #RiskManagement

Calling all climate and insurance leaders — InnSure Corps wants to hear from you!   InnSure Corps, a networking, professional development, and social impact organization, is seeking article and speaker submissions that address the top issues at the intersection of insurance, climate, and technology. Whether you’re an industry insider or a newcomer, InnSure Corps welcomes submissions from everyone looking to catalyze a bold insurance response to climate change.   Have an idea you want to share? Fill out this form: https://lnkd.in/ejUwX7ZK   #InnSure #InnSureCorps #thoughtleadership #innovation #insuranceinnovation #climatechange #climate #insurance #technology #articlesubmission #speakersubmission #callforspeakers #callforarticles

InnSure's Charlie Sidoti recently sat down with Ann Boger on her new podcast, Bird's Eye View, to discuss the intersection of insurance and climate action and what paths forward InnSure sees in the insurance industry. Click on the link below to listen to the full episode ⬇️. #InnSure #insurance #insuranceindustry #insurancesolutions #insuranceinnovation #insurancepodcast #climateinnovation #BirdsEyeViewPodcast #protectiongap #communityinsurability #decarbonization

Given the scope, nature, and history of London insurance markets, its market participants play a unique role in leading and supporting innovation across the globe. Earlier this month, InnSure had the opportunity to co-facilitate an insightful and valuable London roundtable discussion focused on "Risk and Ecosystem Collaboration in an Era of Protection Gaps." Check out our takeaways below: ▪️ The large and growing protection gap presents an existential crisis to communities, and failing to close it poses a reputational risk for the insurance industry. If the industry isn't insuring 50% of catastrophic risks, it's in danger of becoming irrelevant.  ▪️ Closing the protection gap requires both innovating new ways to mitigate risk and ways to reimagine how insurance is delivered to individuals, enterprises, and communities. ▪️ While closing the protection gap presents an opportunity to create large new insurance markets, it requires a high degree of investment in new ways to collaborate and with new stakeholders.  ▪️ Public-private partnership may be required to solve the most difficult problems. At InnSure, we believe that now is the time to craft innovative programs that make them happen at scale. We look forward to continued engagement with the City of London Corporation, the Department for Business and Trade, the U.S. Department of Commerce, London insurance market leaders, and many others. Thank you to everyone who made this roundtable happen and to those who participated! #InnSure #insurance #insuranceindustry #insuranceinnovation #insurancesolutions #insuranceroundtable #londoninsurancemarket #london #protectiongap #closethegap

The words ‘property insurance’ and ‘energizing collaboration’ rarely appear in the same sentence. But complex problems – like why property insurance premiums have skyrocketed for many Floridians – require collaborative, cross-sector responses. That’s why I’m deeply grateful to the 70+ experts who came together this week to discuss what’s driving the high costs of property insurance, and what we collectively can do about it – while also prioritizing climate resilience and housing affordability. In mostly chronological order, huge thanks to: Greg Bloom, who thought he was having a quick catch-up breakfast while passing through London, and came out of it with a shared concept for the first, but hopefully not last, PowerPoint-free and participant-led property insurance extravaganza. Galen Treuer, who championed the concept with resilience-builders and innovators at Miami-Dade County, especially Francesca de Quesada Covey, Julie Dick, Esq., AICP, Emily Corgan, Olivia Clausen, James Murley, Patricia Gomez, Ph.D. and Mayor Daniella Levine Cava. Gunner aka Allen Gunn, who facilitated the transformation of concept to fully-fledged vision, and then facilitated two days of groove. Wallis Greenslade, enticed from the depths of writing her own dissertation (on the UK insurance ecosystem and public-private climate risk governance) to contribute significant subject matter expertise and hold the so-called “organizers” accountable for actually keeping organized. Michael Berkowitz, Maria Martinez and Emily Cava Northrop, for hosting a hell of an insurance party, and Rufus Drabble and Harrison Lance for UK diplomatic partnership and a lovely drinks reception. Carolyn Kousky for three Es: early belief, expertise and enthusiasm. … and most importantly, our expert participants from across insurance, reinsurance, brokerage, consultancy, local government, state government, diplomacy, housing, academia, climate science and environmental nonprofits. Thank you for taking a chance on our “highly participatory, no presentations or panels’’ event, for sharing your knowledge and for identifying a promising set of next conversations and actions to take forward. We are excited to continue collaborating with you all!