Business and Technology Trends, 2022: Specialty Lines

Improved underwriting and product development flexibility are key considerations for specialty insurers looking to accelerate entry into profitable niches: Aite-Novarica Group

Boston, MA (May 11, 2022) – “Specialty insurance” is a broad term that describes various insurance types. Specialty insurance covers surplus lines, program business, and business written through wholesalers and many other types of business. The common factor is that the business is not typically written through standard markets. The specialty market requires significant operational flexibility to accommodate a wide variety of risks and meet the needs of the insurer and the insured.

In a new Impact Report, Business and Technology Trends, 2022: Specialty Lines, research and advisory firm Aite-Novarica Group provides an overview of specialty lines insurer business and technology issues, data about the marketplace, and more than 10 examples of recent insurer technology investments. This report is part of a series on key business and technology trends in specific lines of business in the U.S. insurance industry, and it draws from conversations with Aite-Novarica Group clients and Insurance Technology Research Council members, as well I posleas secondary published sources.

This 35-page Impact Report contains one figure and two tables. Clients of Aite-Novarica Group’s Property & Casualty service can download this report and the corresponding charts.

Click here to access the report.

This report mentions Accident Fund Insurance Company of America, AF Group, AIG, Alleghany Corporation, Allianz Global Corporate & Specialty, AmeriTrust Group, Amynta Group, Applied Underwriters, Arch Insurance, Argo Group International Holdings, Ascot Group Ltd., Ategrity, Attune, AXIS Capital, Banyan Risk, Berkshire Hathaway, Berkshire Hathaway Specialty Insurance, Boston Indemnity Company, Brit Insurance, Catlin Specialty Insurance Co., Cincinnati Financial, CLIC Management NV LLC, Clir, Coaction Specialty, Coalition, Convr, Core Specialty Insurance Holdings Inc., Cornerstone Risk Solutions LLC, Coverys, Crum & Forster, CyberCube, Duck Creek, FCCI, Fidelis Insurance Holdings, The Fortegra Group, Further Global Capital Management, GeoVera Insurance Group, Global Aerospace, Google, Great American Insurance Group, Great Midwest Insurance Company, The Hartford, Hudson Insurance Group, IMA Inc., The Institutes RiskStream Collaborative, Joyn Insurance, Jupiter Intelligence, kWh Analytics, Lancer Financial Group Inc., Lloyd’s of London, Majesco, Mosaic Insurance, Munich Re, One Inc., Praedicat, Privilege Underwriters Inc., Producers Agriculture Insurance Group, PURE Specialty Exchange, RLI, Scion Underwriting Services, SECURA Insurance, SecurIT360, Sequentis Financial, SiriusPoint, Skyward Specialty Insurance Group Inc., SkyWatch.ai, Sompo International, Swiss Re Corporate Solutions, Tokio Marine Group of Companies, Tokio Marine HCC, TowerBrook Capital Partners, Travelers, Trustlayer, Vantage Group Holdings Ltd., Warburg Pincus, Westfield Insurance, and Zurich.

About Aite-Novarica Group

Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.

Source: Aite-Novarica Group