40_Insurance_Trends_for_2011

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					40 Insurance Trends for 2011

       By Claude Penland,
     Associate of the Casualty
        Actuarial Society
      www.InsTrends.com
                      One
• 40. Bermuda market may be getting crowded,
  though Flagstone Re’s Chief Executive Officer
  said to not count Bermuda out.
• 39. Worldwide Takaful (Islamic insurance) market
  is growing fast.
• 38. Microinsurance market has promise in
  developing countries, though it may take an
  enormous effort.
                   Two
• 37. The values of commercial-backed
  securities on insurance companies’ balance
  sheets may need to be marked down.
• 36. Consider these ten emerging risks for
  insurance and reinsurance companies.
  Reflect on the World Economic Forum’s
  list, as well as Lloyd’s.
                     Three
• 35. Look out for insurance brokers with guns on
  the high seas.
• 34. Actuarial jobs are the #3 career, according to
  CareerCast.
• 33. High-risk health insurance pools are only
  attracting two percent of expected consumers.
• 32. There will be a number of insurance
  technology challenges, including cloud computing
  and mobile applications.
                      Four
• 31. Obesity costs $300 billion per year, according
  to the Society of Actuaries.
• 30. What is the future of insurance regulation?
  Actuaries consider that question.
• 29. Alternative pharmacy networks are emerging,
  according to Milliman.
• 28. The annual calls for the National Flood
  Insurance Program to be privatized have begun.
                   Five
• 27. Beijing, China automobile traffic is
  among the worst in the world. Microsoft
  Research Asia is studying how cabbies get
  around for better ideas about efficient
  driving.
• 26. MileMeter’s pay-as-you-drive metered
  car insurance is growing in popularity.
                      Six
• 25. Health record proposal to support
  personalized, predictive, preventative and
  participatory medicine.
• 24. Insurance mergers and acquisitions are
  expected to increase globally in 2011.
• 23. Office of Personnel Management plans to
  build a healthcare claims database.
• 22. Disgrace insurance for sponsors is now
  available to protect their reputations.
                     Seven
• 21. States are borrowing from the US federal
  government to pay unemployment insurance.
• 20. Property and casualty insurance companies
  increase their use of predictive analytics.
• 19. Some insurance runoff specialists are growing
  up fast.
• 18. Rainfall contracts launched by the CME
  Group.
                     Eight
• 17. There are not enough qualified insurance
  regulators in the United Kingdom. Solvency II is
  contributing to that employee shortage.
• 16. United States insurance companies lose 6,000
  jobs.
• 15. The combination of international financial
  reporting standards (IFRS) and Solvency II will
  place strain on insurance companies’ balance
  sheets.
                       Nine
• 14. Institute of Actuaries of India has plans to
  expand throughout Asia.
• 13. US companies’ health plan “grandfathering”
  with regards to health “reform” is still in flux.
• 12. Medicaid costs anticipated to increase a lot in
  several US states.
• 11. New Hampshire is pushing for more locally-
  domiciled insurers.
                       Ten
• 10. CEO’s, CFO’s, Chairmen, Presidents, CIO’s,
  General Counsels and COO’s are very well paid
  among the largest ten property and casualty, health
  and life insurers: a compensation comparison.
• 9. The Asian reinsurance market could
  consolidate.
• 8. Virtual insurance, such as crop insurance in
  FarmVille, might be on the rise.
                  Eleven
• 7. Insurance claims adjusters and lawyers
  are using social networks for investigations.
• 6. Sinkholes in Florida are becoming an
  insurance problem.
• 5. Medical malpractice costs increasing.
• 4. Automobile insurance claims costs in the
  United Kingdom are rapidly rising.
                 Twelve
• 3. Saudi Arabian health insurance premiums
  increasing 30% per year.
• 2. Mortality improvements may slow within
  a few decades.
• 1. The Canadian insurance-linked securities
  market should grow.

				
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posted:2/17/2011
language:English
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