State of the Surplus Lines Market 2020
Brady Kelley, executive director, WSIA said the excess and surplus sector is into its eighth year of growth.
Jacque Schaendorf, president and chief executive officer, Insurance House, said central functions such as policy administration and claims systems are among the first areas to be remade by the influx of technology-focused insurance entrants.
Bryan Sanders, president, Markel Specialty and 2020-2021 WSIA president, said few industry participants have seen many firming insurance markets, but those conditions will change as better pricing fuels fresh competitors.
Marya Propis, senior vice president, director of distribution and broker partnership, All Risks Ltd., said insurers' efforts to increase diversity and inclusion will pay off with more resourceful, adaptive workforces.
David Blades, associate director, industry research & analytics, AM Best, said domestic companies focused primarily on the surplus lines sector outperformed the entire sector.