Once considered a niche segment focused on hard-to-place risks, specialty lines has become the most dynamic and profitable part of the market. By 2030, it will likely more than double in size, growing from roughly $110 billion in 2025 to over $215 billion, outpacing the broader commercial P&C market with a compound annual growth rate […]
Bottlenecks in underwriting don’t always surface as significant issues. In fact, most of the time, they start appearing as a few extra clicks, a missing document, or a task that sits in someone’s inbox for a few days. Over time, these minor delays add up and slow down the entire operation. Performing a full underwriting […]
When most underwriters think of possible risks in insurance, they refer to unusual claims, shifting exposures, or risk management. Although these could all pose a threat to your operations, a hidden risk that’s silently impacting your business is your legacy system. Specialty underwriters deal with complex risks all the time. Underwriters depend on data and […]
At this year’s WSIA 2025 conference in San Diego, one theme stood out above the rest: the MGA market is booming, and the winners will be those who combine technology, partnerships, and human judgment to move faster and underwrite smarter. That’s precisely where OIP Insurtech is placing its bets. As Chief Operating Officer, Miloš Petrović, […]
Managing General Agents (MGAs) play a significant role in the insurance world. They act as a bridge between carriers and agents. They take on underwriting, policy management, claims handling, and distribution. Running a managing general agency and its operations is not easy. Costs continue to rise, and the competition is stronger than ever, yet clients […]
Underwriting renewals are one of the most critical steps in the policy lifecycle. They decide if a client stays with you or moves to another insurer or broker. Brokers play a central role in renewals. They gather data, prepare submissions, and communicate between clients and carriers. Since underwriting renewals can be complex, brokers often make […]
Insurance companies run on trust and accuracy. Every policy written must be priced correctly, adhere to guidelines, and comply with regulations. On the other hand, mistakes sometimes happen to everyone. That’s where underwriting audits come in. An underwriting audit assesses the effectiveness of underwriters in performing their duties. It examines the quality of files, the […]
The policy lifecycle in insurance never ends. You have just reviewed the inspection report and submitted compliance. Time to relax? It’s time to consider renewal submissions and quotes. Since the renewal process begins 90-120 days before the expiration date, it doesn’t give you much time to cool down and take your mind off this insured. […]
Insurance teams and operations don’t break overnight. They break slowly, invisibly, and then all at once. At first, it’s just one or two underwriters handling things their way. Then it’s twenty. Before long, you’ve got dozens of people running the same process differently, across multiple legacy systems, with no documentation and no standard of truth. […]
Some lessons in insurance operations are best learned before they happen to you. A missed detail in a broker’s email. A poorly triaged submission that should’ve never hit the underwriter’s desk. A quote rushed out to meet quota, even though it’s not a fit. These aren’t edge cases. They’re the everyday operational risks that slow […]