For those of you new to Program Manager, or to our parent title The Insurer, we launched a new platform in the midst of the pandemic restrictions called The Insurer TV.
The aim was to provide a format for the industry to continue engaging at a time when face to face meetings and the usual conference circuit were put on hold.
We have evolved the platform to introduce a range of programming, including Virtual debates, our Close Quarter series of concise video interviews, the Leading Voices one-to-one no-holds-barred exclusive interviews with industry leaders, and our flagship analysis programmes, Prospective.
And this month, the spotlight is on the US program sector for our latest installment in the Prospective series.
During the 40-minute episode, we look at the transformation of the US program insurance sector; the size of the market; surging investor interest and start-up activity; the impact of insurtech; emerging risks opportunities; and the rise of the hybrid program fronting model.
We also address arguably the biggest development of 2021 in the space with AM Best’s move to begin assessing MGAs, MGUs and program administrators.
In this month’s Program Manager, we bring you detailed write-ups of the key issues discussed, and full access to Prospective as well as individual segments for those of you with shorter viewing time.
Many of the themes covered have tallied with news developments in the sector this month.
In this issue we bring you multiple news articles on the burgeoning hybrid program fronting sector, including the latest on the Clear Blue sales process, new carrier subsidiaries for Obsidian and Hippo-owned Spinnaker, and the strategy of start-up Concert.
We also report on a series of new program partnerships and launches, including Curotech securing Accredited capacity for a new E&S commercial property program; insurtech Honeycomb launching a commercial real estate program also with Accredited, and Hub’s new transportation excess liability product with Trisura.
Innovation and insurtech was a strong theme in the latest Prospective, and features heavily in this issue.
And there are plenty of news developments that highlight the still surging investor interest and start-up activity in the space, including Jeremy Hitzig’s new Starfish Specialty platform in the works, Joyn’s launch with SiriusPoint, and new MGAs from ex-Vindati CEO Tyler Van Spanje and former Chubb executive Tim Usher-Jones.
Participants in Prospective were uniformly bullish about the prospects for the US program sector, and expect it to continue growing faster than the wider market as it expands beyond its current estimated $60bn size and remains the venue of choice for innovation and speed to market.
We hope you enjoy the read… and watch!