Alex Kubicek

Using superior science / data to provide insurance to the right customer when they need it most.

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Do autonomous vehicles outperform the latest-generation human-driven vehicles? 🚗Waymo shares a Swiss Re study answering that question with a comparison to Waymo's Auto Liability Insurance Claims at 25 million miles. https://ow.ly/IOyr30sIUgM

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Big I Illinois was kind enough to ask me (along with some of the cool kids like Chris Cline, Joey Bouchard, and Colby Tunick, PMP) to contribute my thoughts on "The State of InsurTech" in their June 2024 e-Insight Conversations Series. I'll drop the link to the full article in the comments but I can summarize here with two quick points: Agents should be thoughtful about their tech stack, especially as "AI" powered startups enter the industry. - In my opinion, we are due for a really dynamic period as entrepreneurs try to wrangle the power of LLMs. - I think you'll see a rapid rise in solutions powered by LLMs targeting agencies but likely an equally rapid fall as they all compete with each other (and ChatGPT). - Patrick 🍀 McBride wrote about some of the benefits he's seeing using these tools in this issue as well. Independent agents have never been more influential are the technology being built. - There are a lot of really smart folks building in this industry and we all want to hear from you, have you test drive our product, and give us feedback. - Agents can design the solutions they want and need by using this influence to guide products being built for them by getting involved with organizations like 101 Weston Labs. Check out the article and let me know what your thoughts are on the state of InsurTech! #InsurTech #Insurance #InsuranceAgents

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If you don't know Andrew Notohamiprodjo, you are definitely missing out. He is maybe the brightest mind in wildfire insurance risk modeling in the industry. Check out his interview with Insurance Business America below. #wildfire #insurance

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The Atlantic does a really good job of making stories like this one human. The consequence of places being uninsurable is large numbers of people being under-insured. The consequences of large numbers of under insureds, are stories like the ones profiled here. The article provides no solution, it recognises the impossibility of the problem from both the property owner and the insurer's perspectives. I have no solution either, but we must keep reminding ourselves of our challenge. https://lnkd.in/eJqBQagh

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Recent advancements in autonomous technology are set to revolutionize the transportation industry, addressing key challenges like driver shortages and fuel savings. But how can the insurance industry and the public have confidence in the safety of autonomy? Join Leo Grimm and expert panelists on June 5 at 10:30 AM CST at the IRMI Transportation Risk Conference to find out how the industry can move forward with confidence in the safety benefits of automated vehicles. 🚚 Learn more about navigating autonomous trucking risks: https://ow.ly/irQ850S6Hvn #MunichReSpecialty #AutomousTrucking #RiskMitigation

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This Swiss Re study caught my attention! Earlier in 2024 I had the chance to catch a couple of Waymo’s whilst visiting Phoenix with friends. It took a leap of faith to jump in a car without a driver and we found ourselves back-seat driving worse than usual ;) Good to know that we appear to have been statistically safer than with one of us behind the wheel. Do autonomous vehicles outperform the latest-generation human-driven vehicles? 🚗Waymo shares a Swiss Re study answering that question with a comparison to Waymo's Auto Liability Insurance Claims at 25 million miles. https://ow.ly/bsgR30sIRvp

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In this clip from Episode 14 of The Future of Insurance, Andrew Daniels of InsurTech Ohio talks about why there have been so many different communities developing around the US (and world) to support the growth of Insurance and InsurTech, and the reasons why Ohio has been able to be one of the most thriving places for the industry. Watch the clip at https://lnkd.in/ew5RqK7 and check out the full episode at https://lnkd.in/eHqKb2G #futureofinsurance #insurtech #insurance #podcast

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Have you ever wondered how much more it costs to write a condo policy in Florida than Vermont? The obvious answer is that a higher average annual loss (AAL) translates to a more expensive policy. However, without taking into account the differences in reinsurance margin in different treaty layers, looking at the difference in AAL alone understates the impact of writing that policy on your company's reinsurance costs. You can check out the full article on Pantheon's website by following the link below!

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I've been working in some form of what we call "Crop Insurtech" for the last 16 years, but my time at Farmers Edge has fostered some key understandings. Nothing is easy: If someone claims technology in crop insurance is easy, they likely don’t grasp the complexities involved. I realized that while many possibilities exist, technology has limitations. At Farmers Edge, I found experts who understand the intricacies of crop production, crop insurance, and technology, which is essential to identify and execute on the possible. Overcoming inertia: The saying goes, “if it isn’t broke, don’t fix it.” Yet, just because something works doesn’t mean it shouldn’t be improved. Advancing the industry is often tougher than developing the technologies we do. Farmers Edge emphasizes partnerships to help overcome these challenges. Flexibility: A company must be able to pivot and adapt quickly in the tech space. At Farmers Edge, agility is part of our culture; we embrace change and view setbacks as learning opportunities, fostering collaboration among employees – it’s the only way to get to solutions. Being part of Farmers Edge has been incredibly rewarding, allowing me to impact the industry while working alongside great colleagues and customers. If we aren’t connected and should be please reach out. #cropinsurance #insurtech

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In this article, Los Angeles Times dives into issues surrounding the use of catastrophe models and risk scores in ratemaking and underwriting in CA. One point that I wish were more clear is the idea that insurers use models and scores as "the basis for not renewing policies", and that somehow insufficient transparency or regulation regarding scores is the culprit behind nonrenewals. Nope, the root cause is chronic rate inadequacy => an erosion of capital supporting the business => need to de-leverage (i.e. jettison some existing business). It makes sense that the riskiest/highest premium policies go first, so the risk scores are often used for prioritizing which policies to shed. If companies had been able to price for the risk including the cost of reinsurance, the massive non-renewals would not have been necessary. This is all TMI to fit on the reason codes provided to policyholders though, so consumers are understandably confused.

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Growing attention to the intersection of insurance and climate risk. This time it hits home. https://lnkd.in/e28wkimR Nice to hear more attention to these esoteric metrics like “combined ratio” and a little known ratings agency called“AM Best “. I’m expecting some key insights from InnSure , Charlie Sidoti , Christopher Lowell, CPCU, MBA. Also for people who want much more on this topic check out https://10across.com/ and their in-depth analysis on impacts of climate change on insurance markets across the country. #insurance #climatechange #infrastructure #homeowners

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Outstanding article by our friends and Alan Demers, CPCU, AIC and Stephen Applebaum, "Can Climate Tech Save Insurance" and the paradigm shift from "repair and replace" to predict and prevent. In this issue of Connected, Climate Tech is defined as technology enabled tools and solutions that can avoid, limit, mitigate and remediate the impact of extreme weather events on policyholders and their property, whether man-made or natural. This includes emergency response and triage services. I will also say, Connected is my favorite newsletter! It is a 3 minute scan of our industry, filled with well sourced and very insightful content. Give them a read! https://lnkd.in/ed2WjrdW

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From Star Trek to streamlining our agency—AI can be your secret weapon! 🚀 My dad, Brian Bartosh's journey with technology began at a young age. He convinced my Grandpa in the early 80's that Top O'​ Michigan Insurance Solutions - TOMIA247 could use automation as a way to support the efforts of the agency. "Even before PCs became ubiquitous, he recognized that there were functions that a computer could perform better and faster than a human, allowing staff members at the agency to spend more time on providing better service to clients." - The Rough Notes Company, Inc. So when I showed him the power of some new AI tools, he dove right in. This was reminiscent of scenes from Star Trek for him. It has transformed how we communicate, automate, and free up time of our team to interact directly with clients, allowing for a better client experience. Curious how AI could reshape your business too? Check out his insights below. 👇 #AIRevolution #InsurTech #AgencyInnovation #Insurance #IndependentAgency #AI

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Critical insights from @JeffBrandes on coastal development risks and flood insurance. His analysis of the "safety paradox" connects directly to my research on catastrophe insurance markets and enhanced building standards. Key alignment points: Policy decisions drive market behavior Well-intended subsidies can increase vulnerability Market-based solutions offer sustainable paths forward My recent research shows: Enhanced building standards reduce damage by 53% Market stability requires policy predictability Technical solutions exist for sustainable coastal development We don't have to choose between coastal living and safety - we need smarter policy frameworks that align market incentives with resilience goals. Detailed analysis available in my new papers: (https://lnkd.in/gwU3VwCR) or on my website (www.dondbrown.com) #FloridaInsurance #InsuranceMarkets #dondbrown #the9guidelines or www.dondbrown.com Jeff's full article: www.floridapolitics.com #InsuranceMarkets #CoastalResilience #FloodInsurance #PolicyReform

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Delos Insurance Solutions has a great feature in The Insurer this morning talking about how the #insurance industry can profitably underwrite #wildfire risk in today's climate. Thanks to The Insurer for taking the time to chat about this! https://lnkd.in/gXy_ixD2

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