Five Year Forward View

Inflation, High Interest Rates, and Catastrophes Contribute to 2023 Underwriting Loss for P&C Industry, New Triple-I/Milliman Report Shows

Retrieved on: 
Thursday, November 2, 2023
Professional Services, Insurance, Finance, National Council, P&C, MAAA, CBE, WC, John Carbone Porfilio, Insurance Information Institute, Gross domestic product, National Council on Compensation Insurance, GDP, Growth, Milliman, FCAS, Risk, Employment, Five Year Forward View, Overalls, Forecasting, NCCI, Health care

The quarterly report, Insurance Economics and Underwriting Objections: A Forward View, was presented on Nov. 2, at an exclusive members only virtual webinar.

Key Points: 
  • The quarterly report, Insurance Economics and Underwriting Objections: A Forward View, was presented on Nov. 2, at an exclusive members only virtual webinar.
  • “P/C growth has improved in 2023, growing 1.3% versus 2.1% for overall gross domestic product (GDP).
  • Léonard noted that top risk scenarios for 2024 include geopolitics, weaking employment and gross domestic product (GDP) contraction.
  • Turning to workers’ compensation, Kurtz noted that the 2023 net combined ratio forecast of 90.6 continues the string of underwriting profits.

Inflation, High CAT Losses to Lead to 2023 Underwriting Loss for P&C Industry, But Recession Likely Avoided This Year, New Triple-I/Milliman Report Shows

Retrieved on: 
Thursday, August 3, 2023
Professional Services, Insurance, Human Resources, Finance, NCCI, Employment, CPI, Insurance Information Institute, Milliman, FCAS, NWP, P&C, Doctor of Philosophy, National Council on Compensation Insurance, Five Year Forward View, GDP, MAAA, National Council, CBE, Growth, John Carbone Porfilio, Actuary, News, Tourism

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.

Key Points: 
  • The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.
  • CPI will likely stay in the mid-to-upper 3% range through the end of the year,” Léonard said.
  • “For commercial auto, 2022 saw a return to underwriting losses, as the industry logged a 105.4 net combined ratio, the highest since 2019.
  • She also revealed that the “long tail” line for workers compensation claims has gotten progressively shorter over recent years.

Inflation, Catastrophes Contribute to 2022 Underwriting Loss for P&C Industry, New Triple-I/Milliman Report Shows

Retrieved on: 
Monday, May 15, 2023
Insurance, Professional Services, Workforce, Five Year Forward View, Fed, Housing, Insurance Information Institute, Milliman, FCAS, Weakness, P&C, Federal, Doctor of Philosophy, National Council on Compensation Insurance, GDP, MAAA, Hurricane Katrina, National Council, CBE, Growth, John Carbone Porfilio, YTD, DCC, Life insurance

The 2022 net combined ratio for the property/casualty insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines.

Key Points: 
  • The 2022 net combined ratio for the property/casualty insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines.
  • The quarterly report, Insurance Economics and Underwriting Objections: A Forward View, was presented on May 15 at an exclusive Triple-I members only virtual webinar.
  • Turning to cyber, Dave Moore, FCAS, MAAA, President of Moore Actuarial Consulting , said cyber insurance direct written premium grew 50% in 2022.
  • "This marks the sixth consecutive year with a workers’ compensation net combined ratio under 90 and the ninth consecutive year of underwriting gains,” Glenn said.

Inflation, Supply Chain Disruption and Political Risk Impacting Personal Auto; Loss Pressures, Hard P&C Market Expected to Continue Due to Inflation, New Triple-I/Milliman Report Shows

Retrieved on: 
Thursday, August 11, 2022
City, FCAS, Industry, Insurance, Growth, Insurance Information Institute, Peter Lonard, Unemployment, Building material, John Carbone Porfilio, Private sector, Doctor of Philosophy, MAAA, Pressure, P&C, Forecasting, News, CBE, Five Year Forward View, Economics, Milliman

Loss pressures and a hard P&C market are expected to continue due to inflation, supply chain disruptions, and geopolitical risk,according to thelatest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman .

Key Points: 
  • Loss pressures and a hard P&C market are expected to continue due to inflation, supply chain disruptions, and geopolitical risk,according to thelatest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman .
  • Michel Lonard, PhD, CBE, Chief Economist and Data Scientist at Triple-I, discussed key macroeconomic trends impacting the property/casualty industry results including underlying growth and replacement costs.
  • Lonard noted insurance growth continues to be constrained by economic fundamentals, with replacement cost increases at multiples of pre-COVID levels and subpar underlying growth.
  • "Underwriting losses are expected to continue as more rate increases are needed to offset economic and social inflation loss pressures," Kurtz said.

Expect Loss Pressures to Continue in the P&C Industry Due to Inflation, Supply Chain and Riskier Driving Behavior, New Triple-I/Milliman Report Shows

Retrieved on: 
Thursday, May 12, 2022
CPI, City, Economics, Commercial general liability insurance, Insurance Information Institute, Doctor of Philosophy, Insurance, Institute, Multimedia, Five Year Forward View, John Carbone Porfilio, Unemployment, CAT, P&C, CBE, Industry, General officer, Commercial, Federal, Technology, CMP, Federal Reserve, Head, FCAS, MAAA, Thermoplastic, Ridesharing company, Milliman

The quarterly report, Insurance Information Institute (Triple-I) /Milliman Insurance Economics and Underwriting Projections: A Forward View, was presented on May 12 at an exclusive members only virtualwebinar.

Key Points: 
  • The quarterly report, Insurance Information Institute (Triple-I) /Milliman Insurance Economics and Underwriting Projections: A Forward View, was presented on May 12 at an exclusive members only virtualwebinar.
  • MichelLonard, PhD, CBE, Chief Economist and Data Scientist, and head of Triple-I's Economics and Analytics Department,discussed key macroeconomic trends impacting the property/casualty insurance industry results.
  • Lonard noted that the U.S. P&C industry's performance continues to be constrained by historically high inflation impacting replacement costs.
  • For the whole P&C insurance industry, he said to expect loss pressures to continue due to inflation and supply chain disruption.

NICE Accredits Endomag’s Magtrace® Lymphatic Tracer for Staging Breast Cancer

Retrieved on: 
Wednesday, August 18, 2021
Biotechnology, Health, Pharmaceutical, Clinical Trials, Oncology, Sentinel, NHS England, Union, Lymphatic system, Biopsy, Five Year Forward View, Government, University, National Institute for Health and Care Excellence, Cancer, Endomag, Lymph node, Kate Williams, Neoplasm, Science, Physician, European Union, Systematic review, Research, Accreditation, NICE, UCL, Lymph, Heart, Sentinel lymph node, Allergy, Hospital, Health, Multimedia, England, Methylene blue, Magnetism, Meta-analysis, NHS, Risk, Radionuclide, PLOS One, Patient, CEO, North Manchester, North Manchester General Hospital, Breast cancer, Woman, National Institute, Technology, University College London, Medical imaging, Biotechnology, Health, Pharmaceutical, Clinical Trials, Oncology

Endomags lymphatic tracer, Magtrace, has received an accreditation from the National Institute for Health and Care Excellence (NICE) for locating sentinel lymph nodes.

Key Points: 
  • Endomags lymphatic tracer, Magtrace, has received an accreditation from the National Institute for Health and Care Excellence (NICE) for locating sentinel lymph nodes.
  • To determine if breast cancer has spread, doctors analyse the sentinel, or nearest, lymph nodes to the tumour to see if they contain cancer cells.
  • Unlike technetium-99m, the Magtrace lymphatic tracer is manufactured in the UK and requires no nuclear facilities to be stored or used.
  • Endomag welcomes NICEs accreditation of the Magtrace lymphatic tracer and will continue to work to support access and improve standards of care for all breast cancer patients.

Nottingham University Hospitals NHS Trust selects Indica Labs to deliver their Digital Pathology Solution with HALO AP®

Retrieved on: 
Thursday, July 1, 2021
National Health Service, Nottingham University Hospitals NHS Trust, Nuh, Nuh, England, Five Year Forward View

Indica Labs will deliver its leading digital pathology software, HALO AP, fully integrated with existing hospital systems, alongside multiple Hamamatsu Nanozoomer scanners.

Key Points: 
  • Indica Labs will deliver its leading digital pathology software, HALO AP, fully integrated with existing hospital systems, alongside multiple Hamamatsu Nanozoomer scanners.
  • Nottingham University Hospitals NHS Trust selects Indica Labs to aid in full digitisation of pathology workflow.
  • Two years ago, University Hospitals Coventry and Warwickshire (UHCW) and NUH NHS Trust founded the PathLAKE project in collaboration with other partners.
  • Nottingham University Hospitals NHS Trust based in the heart of Nottingham and provide services to over 2.5 million residents of Nottingham and its surrounding communities.

Nottingham University Hospitals NHS Trust selects Indica Labs to deliver their Digital Pathology Solution with HALO AP®

Retrieved on: 
Thursday, July 1, 2021
National Health Service, England, Nottingham University Hospitals NHS Trust, Nuh, Nuh, Five Year Forward View

Indica Labs will deliver its leading digital pathology software, HALO AP, fully integrated with existing hospital systems, alongside multiple Hamamatsu Nanozoomer scanners.

Key Points: 
  • Indica Labs will deliver its leading digital pathology software, HALO AP, fully integrated with existing hospital systems, alongside multiple Hamamatsu Nanozoomer scanners.
  • Two years ago, University Hospitals Coventry and Warwickshire (UHCW) and NUH NHS Trust founded the PathLAKE project in collaboration with other partners.
  • PathLAKE is working to deliver innovative AI solutions needed in NHS pathology labs.
  • Nottingham University Hospitals NHS Trust based in the heart of Nottingham and provide services to over 2.5 million residents of Nottingham and its surrounding communities.

Omnicell to Partner with Guy’s and St Thomas’ NHS Foundation Trust, London on Development of European Technology-Enabled Intelligence Centre as Part of Expansion of Omnicell Systems Across the South East London NHS Integrated Care System

Retrieved on: 
Monday, January 4, 2021
Software, Practice Management, Pharmaceutical, Medical Supplies, General Health, Health, Data management, Technology, NHS Foundation Trusts, National Health Service England), England, Hospital trust, NHS trust, National Health Service, Integrated care system, Global Digital Exemplar, Five Year Forward View, Guy’s and St Thomas’ and South East London Integrated Care System, Omnicell

As part of a 10.5 million capital investment, the South East London Integrated Care System (ICS) will expand the deployment of Omnicell automation systems across six acute hospital sites.

Key Points: 
  • As part of a 10.5 million capital investment, the South East London Integrated Care System (ICS) will expand the deployment of Omnicell automation systems across six acute hospital sites.
  • The Integrated Care System includes two of the UKs biggest hospital trusts, Guys and St Thomas NHS Foundation Trust and Kings College Hospital NHS Foundation Trust, as well as Lewisham and Greenwich NHS Trust.
  • These Trusts are already using a mix of Omnicells XT supply and medication dispensing systems to manage clinical inventory and medications.
  • Guys and St Thomas provides 2.6 million patient contacts in acute and specialist hospital services and community services every year.

Guy's and St Thomas' NHS Foundation Trust Selects Health Catalyst for Care Redesign Programme

Retrieved on: 
Tuesday, June 11, 2019
NHS Foundation Trusts, National Health Service England), Health in England, Shelford Group, England, King's College London, King's Health Partners, Guy's and St Thomas' NHS Foundation Trust, National Health Service, South London and Maudsley NHS Foundation Trust, Five Year Forward View

This will be realisedas a result of a new agreement between the Trust and Health Catalyst .

Key Points: 
  • This will be realisedas a result of a new agreement between the Trust and Health Catalyst .
  • Health Catalyst will be supporting the Trust's Care Redesign programme.
  • Guy's and St Thomas' NHS Foundation Trust is among the UK's busiest and most successful foundation trusts, with a long history of clinical excellence and high quality care.
  • The Trust is also part of King's Health Partners, one of only six academic health sciences centres in the UK.