Long-Overdue Change In Commercial Lines

When Deb Smallwood and I wrote A Recipe for Commercial Lines Underwriting Transformation, we articulated the need to break free of the traditional paradigm of siloed and incremental evolution being viewed on a quarter-by-quarter and year-by-year basis.

We challenged commercial insurers to leap forward with a big vision for the future and then reverse-engineer a holistic strategy to deliver the vision that leads with business, people and culture and is enabled by technology.

This is the path to meaningful transformation that will ensure sustainable economic success AND create attractive environments that support good talent and generate further innovation.

Our industry survey confirmed that significant change is on the horizon and that we’re not taking all the right steps today to prepare for, let alone capitalize on, that change.

Meaningful differences emerged between the way small commercial units and medium-sized to large commercial units are positioned today, and what their paths forward should look like.