Several years ago, I got a call from an officer of a Fortune 1000 company asking me to supply him with the phone number of an executive of a large commercial lines insurance carrier.
"He never offered to meet with me before," the caller protested, referring to an article I had written. "I want to take him up on the invitation."
My article had quoted remarks that a prominent carrier chief executive made at a seminar on directors and officers liability insurance. "It is mind-boggling that [commercial] insurers never meet with the folks they provide coverage for," the CEO said.
"Get personally involved in the purchase," he suggested to senior managers, risk managers and directors of companies, extending an invitation to potential insureds to meet with members of the carrier management team—and with the company's underwriters and claims professionals.
The timing of the article was during a hard market, and such meetings, which would include broker representatives as well, would allow insureds to showcase unique characteristics that made them better risks, to present concerns or questions about contract provisions, and to scrutinize carrier capabilities, the carrier CEO said.
The idea of breaking down silos between different types of professionals involved in insurance transactions and risk mitigation activities is not new—and it continues to anchor strategies of insurers and producers in the current soft market.
"We have reorganized the underwriting and marketing organizational structure to be more customer-focused—simpler to understand and simpler to access if you are a prospective agent or current agent," one insurance company executive said in a recent NU article, also going on to highlight new technology his company introduced to make it easier for agents to do business with the carrier.
Since I began reporting for NU more than 15 years ago, carrier officials have spoken to me about tearing down internal walls as well. For one of my earliest articles, I interviewed a claims executive who was psyched about the fact that his company had underwriters and claims professionals working side-by-side to facilitate discussions of policyholder issues that might arise before and after policies were written.
Short of reorganizing companies, or organizing meetings that involve everyone in the insurance product delivery chain, industry professionals have been able to turn to NU's P&C magazine and website for news and information that bridge gaps.
Uniquely positioned as the only insurance news source targeting three interconnected audiences—agents and brokers, carrier professionals, and risk managers—our own customer-focused publication has just introduced a new package for this content—the PropertyCasualty360.com website.
Users of NU P&C's former property-casualty.com site are now redirected to this enhanced site, which aims to deliver a 360-degree view of the industry by blending the NU P&C's expertise with four other leading brands in the Summit Business Media P&C Insurance Network: American Agent & Broker, Tech Decisions, Claims Magazine, and Florida Underwriter.
PropertyCasualty360.com Editor Eric Gilkey explained the intent of the new destination, saying: "Much like the companies and readers for whom we write, we set out to create a more efficient and useful product that delivered services for our customers. That meant tearing down the walls to the silicon studs to bring five established and well-respected magazines under one roof."
There's more to the site that is probably best experienced by navigating its main channels—Markets, Risk, Claims, Agent & Broker, and Technology—and there's more innovation to come from a group of editors that continues to provide a foundation of 200-plus years of combined experience.
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