The past year was challenging for the insurance market. Carriers faced great social, political, and regulatory changes that forced them to adopt new strategies, downsize, and increase their rates. The biggest stress points have been outside of the industrys control. These factors, which in themselves may promote a hard market, are compounded by organizational or internal pressures, such as the corporate financial status, business model, technological infrastructure, and systems and resource availability.

As we prepare for 2004, we should anticipate another year of change. Market, customer, shareholder, and organizational demands will continue to grow. To get ready, we should revisit market conditions, evaluate lessons learned in 2003, and utilize technology to promote business improvements.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.