Improving business outcomes have been pursued by the use of a number of popular methods, including Total Quality Management, Continuous Quality Improvement, the Balanced Score Card, and Appreciative Inquiry. Traditionally, businesses commonly focused on what was not working in order to "fix it" and improve organizational and operational outcomes.

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don't stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising prices is uncharted territory.

Job creation has slowed a bit from the torrid pace it set earlier this year. What hasn't been slowing, however, is wage growth. Average hourly earnings were up 5.6 percent in March, compared to a year ago.

Like so many other industries, insurance is becoming increasingly data-driven. Data, of course, has always been an important resource for decisions on claims, risk, and coverage.

Sophisticated analytics are making up for some of the talent drain in the claims management profession.

The insurance industry is currently in the most competitive labor market most professionals have ever experienced. Seasoned employees are retiring, 'the Great Reshuffle' persists, and new roles and opportunities are emerging to meet shifting needs and requirements.

The National Association of Insurance Commissioners (NAIC) insurance complaint data shows that the No. 1 complaint from insurance policyholders is claims handling delays and that all of the top five most complained about insurance processes have to do with claims handling.

Talent recruitment and retention has long been a top priority for insurance organizations. In recent years, the discussion has revolved around the ageing workforce and the need to counteract widespread baby boomer retirements by attracting fresh blood to the industry -- most of whom aren't proactively seeking out careers in insurance.

Look for Canada's P&C industry to fine-tune the hybrid workplace model over the next six months, as the country starts to ease pandemic restrictions, industry execs say.

'Social inflation' is an important issue to understand, as it has a direct effect on claims-related losses and insurance costs, especially for businesses. The term refers to rising litigation costs and their impact on insurers' claim payouts, loss ratios and, ultimately, how much policyholders pay for coverage.

Triple-I non-residential scholar Phil Klotzbach has proposed what he says is a better way to predict hurricane damage than the wind scale currently in use. Speaking at National Hurricane Conference in Orlando, Fla., the Colorado State University research scientist recommended using barometric pressure instead of the Saffir-Simpson wind-based scale.

Over the past several years, there has been a cultural awakening in the business world, pushing organizations to actively hold employees accountable for unacceptable behavior and improve their workplace culture.

The insurance and reinsurance industry loss from the conflict in Ukraine could exceed US $20 billion, according to Verisk-owned specialist claims and loss data unit PCS.

A fourth insurer has gone belly-up in Hurricane Ida's aftermath. Louisiana's Department of Insurance took over Lighthouse Property Insurance Corporation in a court-ordered receivership last week, making it the fourth financially troubled insurer to require rescue in recent months.

The National Association of Insurance Commissioners (NAIC) has agreed to adopt a new standard for insurers operating in the US to use when reporting their climate-related risks.