Best’s News & Research Service - September 15, 2020 01:24 PM (EDT)

AM Best to Sponsor and Lead Innovation Criteria-Focused Session at NAMIC’s 125th Annual Convention

• September 15, 2020 01:24 PM (EDT)

    

Oldwick //BestWire// - AM Best Rating Services President & CEO Matthew C. Mosher will lead a session, titled, “Understanding the AM Best Innovation Scoring Methodology,” at the National Association of Mutual Insurance Companies’ (NAMIC) 125th Annual Convention, to be held Sept. 21-23, 2020.

AM Best believes the accelerated pace of change in society, climate and technology has made innovation increasingly critical to the long-term success of insurance companies. AM Best in March 2020 formally integrated its new criteria procedure, “Scoring and Assessing Innovation,” into its rating process, which outlines how AM Best explicitly will consider an insurance company’s innovation efforts. During the educational session at the NAMIC conference, Mosher will review the key components of the criteria procedure, offer insight on the industry’s innovation scores and discuss his observations on the industry’s innovation efforts.

“Those insurers that successfully incorporate innovation will likely strengthen their organizations, improve their efficiency and better serve their customer base, while those that fail to innovate may find it difficult to sustain long-term profitability and success,” said Mosher.

The session will take place Wednesday, Sept. 23, at 12:30 p.m. (EDT).

AM Best is a longtime sponsor of the NAMIC conference, which offers a multitude of seminars focused on mutual insurance trends and networking opportunities. AM Best also will exhibit through an online booth at the conference, where visitors can learn about the rating agency, its role in the insurance industry and the resources it offers to insurance professionals, including Best’s Credit Ratings, insurance data and analysis resources and financial data products, such as:

• Best’s Insurance Reports^®: comprehensive reports and analytical tools for understanding insurers’ and reinsurers’ financial strength and credit risk;


• Best’s State Rate Filings^®: a resource offering millions of complete rate, rule and form filings for property/casualty lines;


• Best’s Underwriting Reports and Best’s Loss Control Reports: detailed reports on the hazards faced by hundreds of businesses and industries, which help users assess risks and make informed underwriting decisions; and


• Best’s Financial Suite: a family of databases that provide timely, detailed financial statement data and credit ratings for thousands of insurers worldwide.

Sue Kjaer, senior account manager, and Debbie Giordano, account manager, both of AM Best, will be available to answer questions during the event or to provide more information. To contact them, email sue.kjaer@ambest.com and debbie.giordan@ambest.com.Arthur Snyder IV, account manager, also will be available during the event to discuss the commercial aspects of and the process for initiating a Best’s Credit Rating. To arrange a meeting, email arthur.snyderIV@ambest.com.

More information about the conference is available at https://www.namic.org/edu/convention .

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

United States Press Release A.M. Best Rating Services, Inc. Insurance Technology Conventions And Meetings COVID-19 (Coronavirus)