Interviews
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Industry sources estimate the market to be around $3bn. -
Colorado and New York have already passed regulations regarding insurer AI use.
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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
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The Democratic senator said increased federal oversight of insurance is not the answer.
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The MGA recently secured capacity to write HNW homes in California.
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Hippo estimated its pre-tax cat loss from the LA wildfires at $42mn.
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Inflation, supply chains and tariffs also add to the challenges, he said.
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The carrier is looking to accelerate E&S growth after 7% expansion in 2024.
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Technology is key to streamlining the value chain and mitigating loss ratios.
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He emphasized that Consilium is a private business and intends to remain one.
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The company is on target to write around $700mn in premiums this year.
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CEO Tom Kang said Converge will now be able to deploy a total of $10mn in limit in certain segments.
