Travis Lewis

Starting a new insurance program is hard and most will not succeed. IF you want to set yourself up for success, look into this interview with JoAnne (Sproutr)and Jascah from Munich Re. There are a lot of key items you MUST HAVE before you can think a program has legs.

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Florida’s five largest auto insurers, which cover nearly 80 percent of the state’s market, are cutting personal auto rates by an average of 6.5% this year, with some reductions over 10%. Since 2023, rates among these top five carriers have dropped by more than 120%, following an average increase of 4.3% in 2024 and 31.7% in 2023. Florida’s auto liability loss ratio is now 53.3%, the lowest in the nation, down from 74.5% in 2023 and 80.5% in 2022. After a decade of increases, this is a measurable outcome of the 2023 legal reforms that ended assignment of benefits for glass claims, curbed litigation abuse, and lowered lawsuit volumes to their smallest levels in years. The Florida Office of Insurance Regulation has approved 46 rate decreases so far in 2025, and the state’s litigation climate, once among the costliest in the nation, is now trending toward stability. When policy addresses the root causes of inflated costs, consumers benefit. https://lnkd.in/ethC4kZi

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In this episode of the Bound for Greatness podcast, host Matt Grange and co-founder Derrick Felix sit down with Kooper Ashmore to discuss his journey into the insurance industry and what draws the next generation to risk management careers. Kooper shares his experience in the Risk Management and Insurance (RMI) program at East Carolina University, including how COVID-19 shaped his educational path and professional development. The conversation explores the vital role that Gamma Iota Sigma plays in connecting students with industry opportunities and building the talent pipeline. The discussion addresses common misconceptions about insurance careers and why many young professionals overlook this field despite its strong career prospects. Kooper and the hosts examine current trends in commercial insurance and dive into the creative problem-solving aspects of underwriting, particularly when dealing with unique or unconventional risks. Listen now on Bound Networks 🎙️ #BoundForGreatness #BoundNetworks #Insurance #RiskManagement #StudentSpotlight #GammaIotaSigma #CareerAdvice #NextGeneration #Underwriting #Mentorship #ECU #InsuranceCareers #SpencerScholar

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A recent industry mid-year surplus lines report is in, and the Wholesale and Specialty Insurance Association’s (WSIA) data is telling a clear story — demand for nonstandard coverage continues to climb: ✅ $46.2 billion in premiums have been written. ✅ 3.7 million items have been filed. ✅ There was a 13.2% increase in premiums and a 12.4% increase in filings compared to the same time last year. For independent agents and brokers, this surge means more complex, hard-to-place risks are landing in the surplus lines space. Some of the lines seeing the most growth this year are non-professional liability, commercial property, professional liability, and multi-peril. Standard lines like commercial auto liability and even certain personal property coverages are also seeing growth in some markets, a sign that opportunities are expanding beyond the traditional surplus lines. Give us a call any time for assistance with surplus lines. We’re here to help you and your clients in this shifting market.

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Thoughtful interview with Adam Schwebach of Gallagher Re in Insurance Journal. Indeed, Florida will benefit from confidence in the permanence of the legal and regulatory reforms which harmonized the state with national insurance standards and restored to stability to a market on the precipice. "I think the hope and goal of all stakeholders right now should really be stability. Stability leads to natural competition and improvement for policyholders, for carriers and for reinsurers, all the way around. I would give a ton of credit to the governor’s office, legislators and the Florida Office of Insurance Regulation who, over the past year have done a wonderful job of getting in front of the various reinsurance stakeholders and making sure they understand that the reforms that were passed are not going anywhere. That’s incredibly important to the market—maintaining stability." #Florida #insurance #reinsurance #propertyinsurance #coastalinsurance #homeownersinsurance https://lnkd.in/e8HfQNCv

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MEDICARE PROJECTED SPENDING TO GROW FORM $1.1 TRILLION IN 2024 TO $2.2 TRILLION IN 2033 Medicare expenditures are expected to have grown 8.3 percent in 2024 (similar to 8.1 percent in 2023) and to have reached $1.1 trillion. This rate of growth for the Medicare program occurred because of a slower increase in Medicare Advantage capitation rates offsetting faster growth in fee-for-service payments for hospital and physician and clinical services. Medicare prescription drug spending growth is expected to have remained elevated, at 14.7 percent, in 2024 (up from 12.2 percent in 2023), in part because of the Part D benefit redesign provisions, which eliminate the 5 percent coinsurance component for catastrophic coverage. In 2025, Medicare spending is projected to grow 7.7 percent, with most personal health care sectors experiencing slowing increases. For Medicare physician and clinical services, spending growth is projected to slow to 5.6 percent in 2025 (from 6.9 percent in 2024), in part driven by a physician fee schedule update of −2.5 percent and slower growth in the use of physician-administered drugs. Over the course of 2026–27, average Medicare spending growth is projected to accelerate from 7.7 percent in 2025 to 8.9 percent, reflecting elevated growth rates for most personal health care sectors. Medicare physician and clinical services spending growth is expected to average 9.1 percent during 2026–27 (up from 5.6 percent in 2025), in part because of physician fee schedule increases after the payment rate reductions in 2025. For 2028–33, Medicare spending growth is expected to average 7.4 percent. Enrollment is projected to increase by 2.2 percent and 2.0 percent for 2028 and 2029, respectively, as the last cohort of baby boomers enrolls in the program in 2029, and then to slow to a projection-period low of 1.0 percent by 2033. The IRA is expected to slow Medicare prescription drug spending growth during 2028–33 as it links drug price growth to the CPI and continued drug price negotiations. We use these numbers everyday to help clients determine how much they should reserve to cover future medical expenses in workers compensation claims. We use these numbers to help counsel negotiate a fair settlement considering the value of future medical care in medical malpractice claims. We use these numbers every day to assist parties make a determination on how they will take Medicare and Medicaid's future interests into account in slip and fall, motor vehicle, and products liability claims. To learn more about Cattie & Gonzalez, PLLC, including our medical care records review and summary services, future medical costs projection analysis, and Medicare/Medicaid future medical set aside allocations, visit us at www.cattielaw.com, connect with us at info@cattielaw.com, or call us at 844.546.3500. #rafaelgonzalezesq #cattoegonzalezpllc #ahigherstandardinmedicarecompliance #theliabilitynofaultworkcompmedicarelawyers

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Every insurer wants fast claims, but the real bottleneck isn’t speed.  It’s fragmentation. Manual FNOL.  Disjointed systems.  Adjusters reviewing the same details again and again.  Blind spots that lead to fraud slipping through.  Weeks of waiting that erode policyholder trust. Teqfocus fixes the root problem by automating claims end-to-end inside Salesforce:  - Damage detected automatically  - Estimates verified in seconds  - Policies reconciled instantly  - Anomalies flagged early    Don’t modernize your claims. Rebuild them for real-time. #Teqfocus #InsuranceAutomation #ClaimsProcessing #Agentforce #AIinInsurance 

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State Farm has filed for its fourth auto insurance rate reduction in Florida within a year, lowering average personal automobile premiums by 10%, according to company spokesperson Michal Brower. https://hubs.la/Q03QZD570

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The report represents #captiveinsurance company data for all 2024 licensed captives combined. This formation was compiled from the fiscal year-end 2024 annual statement financial reporting of each captive. Data do not represent audited information. https://ow.ly/azLp50WtJtS

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How are captive insurance companies evaluated? This is one of the most important—and most misunderstood—parts of forming a captive. Structure, compliance, and intent matter. When done correctly, captives can be a powerful strategy. When done incorrectly, they can create risk. 👉 Take the first step with a captive assessment: https://lnkd.in/gGb8pATq #CaptiveInsurance #RiskStrategy #RiskManagement

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For years, innovation in auto insurance centered on underwriting and pricing. But pricing has become commoditized. The strategic shift? Post-loss. Claims experience now directly impacts: • Retention • Lifetime value • Cross-sell probability • Brand trust In this piece, we explore why insurtech capital is moving toward claims automation, digital repair orchestration, and real-time communication. Would love perspectives from claims leaders and insurtech operators. https://lnkd.in/dic9t26e

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Specialty Commercial Insurance | Independent Agent in Kentucky Not every risk fits into a standard insurance company’s appetite. That doesn’t mean it’s uninsurable — it means it may need surplus lines insurance. What Is Surplus Lines Insurance? Surplus lines coverage is designed for: Businesses declined by standard carriers High-value or unusual properties Operations with unique or elevated risk These policies are written by specialty insurers that are built to handle risks others can’t. Common Situations That Require Surplus Lines New or unusual business models Prior claims or losses High liability limits Specialized construction or property risks Surplus lines policies are legal, regulated, and often the best or only option for certain businesses. Why This Coverage Is Often Missed Many business owners only learn about surplus lines after being declined elsewhere. Working with an independent agent early can save time, frustration, and gaps in coverage. If you’ve been told “we can’t write that,” let’s take another look. Call 502-245-3625 today. As a local independent insurance agent serving Louisville and throughout Kentucky, I help businesses find coverage when standard policies fall short. Commercial Insurance Louisville Kentucky – Your Small Business Insurance Call 502-245-3625 or request a quote online to review your business insurance needs. Commercial Insurance your independent insurance agent Business Commercial Insurance Kentucky Contractors

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Your board asks: "Why are loss ratios climbing while insurtechs operate at half our cost?" Because your claims team is drowning in work that doesn't need human judgment. Your adjusters can't manually triage 10,000 FNOL submissions, audit every partner transaction, and extract millions of litigation docs... and still have time for complex claims, fraud investigations, and customer relationships. AI agents handle the grunt work. Your team handles the decisions. → Claims Agent (processes routine, flags complex for adjusters)  → Partner QA Agent (monitors 100%, escalates issues to auditors)  → Underwriting Agent (handles applications, routes edge cases to underwriters) → Compliance Agent (auto-reports, flags gaps for officers) → + 4 more Result: Same headcount. 65% faster processing. 12% better loss ratios. Your adjusters become claim strategists instead of data processors. Get the handbook → https://lnkd.in/gxNCM9Uy #LyzrAI #EnterpriseAI

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4 ways to access cash sitting inside your reinsurance program. 1. Contract Production Loan 2. Reinsurance Loan 3. Upfront Premium Payment 4. Reverse Retro Most dealers leave one—or all—of these options on the table. Each is a path to stronger cash flow without tapping traditional lines of credit. Which one have you used before? Which do you want to learn more about? #reinsurancesecrets #dealershipprofit #dealertraining #automotivefinance

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Producer success is rarely accidental. Agencies that consistently develop strong producers tend to share one thing in common: they build structure around expectations, accountability, and support. Clear market focus. Defined compensation models. Measurable activity standards. A rhythm of coaching rather than one-time onboarding. Strong producers are not discovered. They are developed. Read more: https://lnkd.in/eS72SAk3 #IndependentAgents #InsuranceLeadership #AgencyGrowth #ProducerDevelopment

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Are we in the next golden age of the independent agent? That's the question! And if you ask me, the answer is yes. No layers of bureaucracy. No endless budget cycles. No waiting on corporate approval. The agility that's always defined our model is exactly what AI rewards, and that's great news for you. Shared more thoughts on this in the inaugural issue of The Insurance Innovator, the new newsletter from 101 Weston Labs. It's worth a read and a subscription! #InsurTech #AI #IndependentAgents

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