According to the Swiss Re Institute, headline inflation is estimated to decline but stay elevated in 2023, to some extent alleviating upward pressure on claims compared to 2022. However, cost inflation in certain prices, such as labour and healthcare, may remain high. These, and non-economic factors like social inflation and more frequent traffic accidents, will likely underpin still-elevated claims, notably in motor and liability. This environment will require P&C insurers to consider continuing underwriting discipline in 2023.

• We estimate that high inflation alone led to an increase in P&C claims of 5-7.5% in 2022, close to rate rises, but the change in price is not enough to counter the upward pressures from other non-economic factors, in our view.
• We believe inflation has peaked but is likely to remain more persistent in 2023.
• Ongoing elevated prices in certain areas are expected to pressure lines of business in casualty and liability.

The high-inflation environment has been expensive for P&C insurers. The losses from Hurricane Ian at the end of 2022 contributed to a worsening of the P&C loss ratio, but the main driver was the sharp increases in economic inflation. We estimate that inflation alone increased/will increase P&C claims costs by 5-7.5% across main five markets in 2022 and 2023 (see Figure 1). And for property, a short-tail business immediately sensitive to inflation impacts and rising construction costs, we estimate a 6-13% increase over the two years, higher than the 5-8% range of registered price increases. We expect P&C claims growth to ease in 2023 alongside moderation in inflation. Coupled with a repricing in loss-making areas during recent primary market renewals, this may alleviate some of last year's underwriting pressure. Still, insurers will need to maintain discipline in pricing, and terms and conditions, as we forecast inflation to continue to impact many claims-relevant price categories, such as labour and medical costs. Prices in these areas typically grow more slowly than in other segments, and they remain elevated. Non-economic factors, such as social inflation and increased loss frequency in motor and property lines, reaffirm that further rate hardening is required to narrow the estimate that all else equal, premium income needed to have risen 13% to offset inflation-driven claims gains in 2022. Property premium income fell short of rising claims costs in Australia, Germany and the UK. We estimate that the average combined ratio in P&C insurance in our profitability analysis of eight major markets rose to 99.3% in 2022 from 96% in 2021, driven mostly by inflation.  In France, the loss ratio in P&C in the third quarter of 2022 was 9 percentage points (ppt) higher year-on-year while in the UK, the loss ratio for motor was up 5.1 ppt in the same period. In the US, the motor physical damage loss ratio reached 84% in 9M22, almost 20 ppt above the annual average of the 10 years before the COVID-19 pandemic. For 2023, we forecast a P&C combined ratio of around 98%, close to the pre-COVID-19 2019 level of 97.7%. Cost increases in construction, which peaked in 2022, should ease but will remain high by historical standards, as building activity is still strong and China's re-opening will increase global demand for commodities. For example, we forecast the producer price index for construction (PPI-C) in the UK to rise by 8% this year, and in the US by 11.4% (see Figure 2). Cost rises in motor vehicle repairs and replacements should ease in key markets (except France, where price increases in inputs such as energy lag other markets), but will still be above pre-pandemic levels. Regarding other inflation drivers, we expect tight labour markets to increase wages (eg, we forecast that wages in the UK will rise by 6.2% this year, more than our 5.5% projection for core CPI) and backlogs of medical procedures to increase healthcare costs, putting pressure on long-tail lines of business in casualty and motor liability. Signals for a market correction had been mounting long before the inflation-driven rise in claims 2022. The underlying claims drivers indicate that higher primary insurance rates are likely. Sustained insurance underwriting discipline will be needed in 2023 to help improve underwriting results.    

US shareholders are suing Credit Suisse for giving false and misleading public statements and downplaying the impact of its losses, in the latest knock to the beleaguered bank. The Rosen Law Firm, a global investor rights law firm, filed a class action lawsuit in New Jersey against the Swiss banking giant on behalf of investors. It comes in the same week that the lender agreed to borrow up to 50 billion Swiss francs (£45 billion) from the Swiss National Bank, after watching its share price plunge by around 30% on Wednesday. The lawsuit accuses Credit Suisse of making false and misleading public statements, and failing to disclose important information about the volume of customers withdrawing money from the bank late last year. The bank did not disclose that “the sharp increase in customer outflows Credit Suisse began experiencing in October 2022 remained ongoing”, the lawsuit read. It went on: “Accordingly, Credit Suisse had downplayed the impact of the company’s recent series of quarterly losses and risk and compliance failures on liquidity and its ability to retain client funds.” On Tuesday, Credit Suisse admitted in its annual report that it had found “material weaknesses” in its internal controls over financial reporting, meaning it failed to to identify risks it should have. As a result, it concluded that its disclosure controls and procedures at the end of last year were not effective. The bank also revealed that it sustained 123 million Swiss francs (£109 million) in asset outflows over 2022, as customers withdrew funds. It helped drag down the group’s total net loss to 7.3 billion Swiss francs (£6.5 billion) for the year. It admitted it had suffered “reputational harm” from the outflow of deposits and assets under management, which it insisted was concentrated in October last year and had begun to moderate since. But the investors suing Credit Suisse accuse it of overstating its financial position and prospects and downplaying the impact of the losses it incurred. “As a result, the company’s public statements were materially false and misleading at all relevant times”, it concluded. The law firm, which focuses on representing shareholders, said other investors can join the class action by contacting its lawyers. Credit Suisse declined to comment on the lawsuit. Rosen Law Firm filed a lawsuit against the US’s Silicon Valley Bank which collapsed at the end of last week, for misleading shareholders about its susceptibility to a bank run as a result of high interest rates. It is also investigating potential claims on behalf of shareholders of US regional bank First Republic Bank, which saw its share price plunge by more than two thirds during the day on Monday.    

An outbreak linked to eye drops has infected 68 people in Florida and in 16 other states, according to the latest update from the Centers for Disease Control and Prevention. The CDC said it is investigating an outbreak of an extensively drug-resistant strain of Pseudomonas aeruginosa. Health officials said the stain, called VIM-GES-CRPA, had never been reported in the United States prior to the outbreak. “Most patients reported using artificial tears,” the CDC said. “Patients reported over 10 different brands of artificial tears and some patients used multiple brands. EzriCare Artificial Tears, a preservative-free, over-the-counter product packaged in multidose bottles, was the brand most commonly reported. This was the only common artificial tears product identified across the four healthcare facility clusters.” Researchers said opened bottles of EzriCare Artificial Tears from multiple lots contained the VIM-GES-CRPA strain. These bottles were taken from infected and uninfected people in two different states. The CDC said it is still testing unopened bottles to see if they were contaminated during manufacturing. So far, at least one person has died, eight have lost vision, and four have had their eyeballs surgically removed, the CDC said. The CDC recommends clinicians and patients stop using EzriCare or Delsam Pharma’s Artificial Tears products. The Food and Drug Administration said both products have been recalled. It put out separate warnings for customers to immediately stop using the products. According to health officials, those who have used EzriCare or Delsam Pharma’s artificial tears and have signs or symptoms of an eye infection should seek medical care immediately. According to the CDC, eye infection symptoms may include:

• Yellow, green, or clear discharge from the eye
• Eye pain or discomfort
• Redness of the eye or eyelid
• Feeling of something in your eye (foreign body sensation)
• Increased sensitivity to light
• Blurry vision

“At this time, there is no recommendation for testing of patients who have used this product and who are not experiencing any signs or symptoms of infection,” the CDC said. The FDA recently posted recall notices for two other types of eye drops from Pharmedica and Apotex for non-sterility concerns. The drops have not been linked to the VIM-GES-CRPA outbreak.    

Berkshire Hathaway Inc.’s Warren Buffett has been in touch with senior officials in President Joe Biden’s administration in recent days as the regional banking crisis unfolds. There have been multiple conversations between Biden’s team and Buffett in the past week, according to people familiar with the matter, who asked not to be identified because the information is private. The calls have centered around Buffett possibly investing in the US regional banking sector in some way, but the billionaire has also given advice and guidance more broadly about the current turmoil. Buffett has a long history of stepping in to aid banks in crisis, leveraging his cult investing status and financial heft to restore confidence in ailing firms. Bank of America Corp. won a capital injection from Buffett in 2011 after its stock plunged amid losses tied to subprime mortgages. Buffett also tossed a $5 billion lifeline to Goldman Sachs Group Inc. in 2008 to shore up the bank following Lehman Brothers Holdings Inc.’s collapse. Representatives for Berkshire Hathaway and the White House didn’t immediately respond to requests for comment. Officials at the US Treasury Department declined to comment. US regulators unveiled extraordinary measures to assuage customers last weekend, promising to fully pay out uninsured deposits in the failed banks. Shares in regional banks continued to fall this week on fears the pain would spread. Biden’s team, wary of political blowback, has moved to orchestrate backstops that don’t require direct government spending from taxpayers, including the Federal Reserve’s actions. Big US banks voluntarily deposited $30 billion to stabilize First Republic Bank this week, a move regulators described as “most welcome.” Any investment or intervention from Buffett or other figures would continue that playbook, looking to stem the crisis without direct bailouts.    

Decision Research Corporation (DRC), the leading provider of cloud-provisioned enterprise solutions for the P&C and Specialty insurance industry, announced the roll out of RS X Rating to support Beazley’s digital advancement initiative to move their full enterprise rating to the cloud. RS X Rating allowed Beazley to separate their rating processes from servicing. This enabled them to quickly react/adjust to market requirements by making rate changes and product adjustments that met broker expectations. The digital shift to a cloud environment also created a more seamless and frictionless implementation of partner integrations. To enable growth and distribution of their business, Beazley realized their on-premise servers and software were holding back opportunities. In order to achieve their digital first goals, they identified those servers were a thing of the past and it was essential to move to the cloud. Beazley selected DRC as their primary technology partner to further this initiative with the cloud-provisioned foundation of the DRC solutions hosted in Microsoft Azure. “Despite internal anxiety of moving a core component to the cloud, the actual deployment was basically a non-event. DRC was instrumental in helping Beazley modernize and simplify our digital processes. The RS X rating engine was an integral part of the toolkit that enabled zero touch broker interactions and submissions,” said Samata Tummala, Head of Technology (USA and Canada) at Beazley. “This seamless transition in the sales and business processing function positioned Beazley as a forward-thinking insurer and helped us earn the business of more brokers.” “This milestone achievement helps advance Beazley’s Technology strategy of moving critical systems to cloud infrastructure,” said Libby Davey, Global Chief Information Officer at Beazley. “The integration flexibility and scalability helps Beazley expand distribution networks and provision infrastructure more nimbly.” “DRC is pleased to be able to once again partner with Beazley, helping them meet their growth initiatives to grow their business” said Karen Yamamoto, CEO and President at Decision Research Corporation. “We look forward to continuing to work with Sam and her team to further enable Beazley’s growth and business objectives,” continued Yamamoto. About DRC Decision Research Corporation (DRC) provides innovative, cloud-based, enterprise solutions to P&C insurance companies looking to boost their business development efforts, reduce administrative overhead, and accelerate speed-to-market for their products through automation. RS X Rating, DRC’s no-code rating solution, gives actuaries the ability to configure powerful automation functions without IT assistance, and to price risks and model products, no matter how complex, all through a familiar Microsoft Excel® interface. DRC’s flagship product is the DRC Insurance Platform, a full-service policy administration system, including portals, quoting, billing, claims, and advanced analytics, powered by RS X Rating, and engineered to streamline internal processes and empower business users within a secure and robust enterprise ecosystem. DRC has remained committed to total customer satisfaction throughout its 50-year history, and its clients, running the gamut of size and scope from large global carriers to regional start-ups, continue to rely on DRC’s trusted solutions to manage over $7 billion in written premium. To learn more about DRC, visit www.decisionresearch.com. About Beazley Beazley plc is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. In 2021, Beazley underwrote gross premiums worldwide of $4,618.9 million. Beazley manages seven Lloyd’s syndicates, all Lloyd’s syndicates are rated A by A.M. Best. Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's. Beazley's European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch. Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber liability, property, marine, reinsurance, accident and life, and political risks and contingency business.

Jimcor Agency, Inc, a national wholesale broker and MGA, announced a new Garage Specialty team with the hire of Janie Spata, Brokerage Specialist: Garage, based in South Carolina. Spata is the most recent hire in the Brokerage specialty team and was with U.S. Risk as Vice President in Garage Underwriting prior to joining Jimcor. Her career in insurance spans over 35 years, including March & McLeannan where she started off as technical assistant. She is certified in insurance classes and CPSR designation. This is the most recent announcement as Jimcor continues to expand operations nationally, now writing in 43 states, as an independent now with over 165 employees.

Silicon Valley Bank's former parent company filed for Chapter 11 bankruptcy protection on Friday, a week after the U.S. government took over its commercial bank that teetered from a run on deposits. Why it matters: The move is an effort to preserve value for the remaining businesses that sit within parent holding company SVB Financial Group. The filing comes after a group of investors purchased holding company bonds and pushed for the bankruptcy process. State of play: The FDIC is managing the commercial bank, SVB, and still seeking a buyer in a separate process. The FDIC wants a bank to purchase the whole SVB entity, and is deterring the involvement of hedge funds and other investors interested in parts of the business, sources familiar with the matter say. A second effort to sell the FDIC-owned commercial banking business is currently underway, after the regulator was unable to find a buyer last weekend. Catch up fast: Nasdaq-listed SVB Financial Group said on Monday it was pursuing strategic alternatives — including the sale of its investment arm, SVB Capital, and its investment banking business, SVB Securities. That process is ongoing, the company said on Friday, making clear that SVB Capital and SVB Securities are not part of the Chapter 11 filing. Those entities "continue to operate in the ordinary course as SVB Financial Group proceeds with its previously announced exploration of strategic alternatives for these valuable businesses," the company said. SVB Financial Group also clarified that it is no longer affiliated with SVB, the commercial bank currently under receivership, or SVB’s private wealth business. Zoom in: Centerbridge Partners, Davidson Kempner Capital Management and Pacific Investment Management purchased bonds in the holding company over the weekend and formed a creditor group, the Wall Street Journal reported on Tuesday. The group wanted the parent company to file for bankruptcy and then auction SVB Financial's nonbank businesses through a court-supervised process, Axios has confirmed. The group got its wish on Friday with SVB Financial's Chapter 11 filing — but where the auction goes and who receives the proceeds remains unclear. Of note: In its bankruptcy filing, SVB Financial Group said it believes it has approximately $2.2 billion of liquidity, $3.3 billion in debt, and $3.7 billion of preferred shares.

U.S. Senate Majority Leader Chuck Schumer has urged a federal investigation into safety practices of all seven major freight railroads, following the East Palestine, Ohio derailment of a Norfolk Southern Corp train. In a letter, Schumer urged the National Transportation Safety Board (NTSB) to launch an investigation of Norfolk Southern, BNSF Railway, CSX, Union Pacific, Canadian National, Canadian Pacific, and Kansas City Southern. Schumer said that over the past five years, freight rail companies have had "over 26,500 accidents and incidents and 2,768 deaths, all while cutting roughly 20% of their workforce." In a Senate speech on Wednesday, Schumer accused the seven freight carriers of a "dangerous industry-wide trend" that he argues "puts profits over people's safety." "Norfolk Southern isn't the only rail company that has spent years lobbying to loosen regulations, neglect safety upgrades and lay off workers," Schumer said. NTSB Chair Jennifer Homendy told reporters on the sidelines at an event she had received Schumer's letter but was unclear if the agency has the authority to conduct such a broad based probe. "We'll evaluate it and see what's possible," Homendy said. The NTSB said last week given the number and significance of recent Norfolk Southern accidents it was opening what it called a special investigation and urged "the company to take immediate action today to review and assess its safety practices." On Feb. 3, a Norfolk Southern train carrying hazardous materials derailed in East Palestine, Ohio, resulting in the release of over 1 million gallons of harmful pollutants. Norfolk Southern CEO Alan Shaw, who testified last week before a Senate panel, will appear before another Senate committee on March 22. Shaw has apologized for the Ohio derailment and promised to improve his company's safety practices, while also devoting resources to cleaning up the East Palestine site.  

AI-powered commercial auto insurance company Fairmatic today announced it has raised $46 million in new funding, six months after its oversubscribed Series A, bringing its total financing to $88 million. Battery Ventures led the round with participation from current investors and Bridge Bank. Fairmatic is creating a new commercial auto insurance category with its AI-driven underwriting approach that unlocks continuous savings opportunities for fleets. By providing an easy way to monitor driving events and offering actionable improvement tips, Fairmatic is giving fleets more proactive control over their risk management approach. This fair and transparent underwriting approach unlocks a better understanding of risk, ensuring fleets are only evaluated based on factors within their control. With Fairmatic, fleets are incentivized for safer driving and not penalized for unavoidable incidents. This diverges from traditional insurance models that rely on historical data, which has led to losses and overpriced premiums, especially upon renewal. "Fairmatic addresses the central requirement of improving commercial auto insurance: motivating safer driving. The company does so by capturing the rich data signal generated by our smartphones and applying it to the task of identifying unsafe driving behavior, which enables Fairmatic to offer insurance products that both reward fleet managers for safer driving and potentially achieve greater profitability than traditional, loss-based approaches to underwriting and pricing," said Battery Ventures Partner Marcus Ryu, the former CEO and co-founder of insurtech company Guidewire Software. Ryu added, "We are excited to partner with Fairmatic as an exemplar of fundamental innovation in financial services.  Fulfillment of the company's mission will entail more than just convenience and lower insurance costs for their customers; it will enhance the safety of the roads we all rely upon every day." "New developments in AI, combined with troves of proprietary driving insights, have allowed Fairmatic to unlock a completely new approach to addressing the most critical questions in commercial auto insurance: which drivers are safe and which aren't; how insurers can help drivers improve safety and reduce risk," said Jonathan Matus, Fairmatic founder and CEO. "With this powerful new technology for improving driver behavior, there's a massive opportunity to reframe the problem and solution from first principles. This new funding strengthens Fairmatic's lead in AI innovation geared towards meaningfully improved road safety and profitability." Following its Series B, Fairmatic is scaling its AI and data-science capabilities by opening a new R&D hub in Israel and tapping seasoned technologist and former NASA researcher, Guy Shaviv, as the new Head of Engineering in Israel. "Israel has some of the world's finest talent for both Insurtech and mobility. Folks here are creative, smart, and aggressive -- exactly what a startup at our stage needs," said Shaviv, who built mobile at Nexar, a fleet dash cam company for fleet management, and was employee No. 1 at Houzz, a unicorn with 65 million users. Shaviv has a proven track record of driving innovative product and engineering strategies at a global scale. About Fairmatic Fairmatic is creating a new commercial insurance category by delivering the first data-driven fleet insurance that rewards safety with savings. Fairmatic's new approach leverages AI-powered technology in combination with deep telematics data to drive meaningful cost savings for fleets by valuing responsible driving leading to safer roads. The Fairmatic underwriting model has been trained and tested with over 200 billion miles of driving data to help fleets proactively manage safety issues with actionable insights.    

Financial services firm Sterling Bancorp agreed Wednesday to plead guilty to securities fraud, including a $27.2 million fine, which will go toward paying restitution. The Michigan-based bank holding company pleaded guilty to one count of securities fraud, under terms of the plea agreement, according to the Justice Department. The company also will serve a probation term through 2026. Officials are not seeking a criminal fine in the case. Sterling committed $69 million worth of securities fraud. Prosecutors contend it filed false statements related to its initial public offering in 2017, as well as its subsequent financial statements in 2018 and 2019. The bank allegedly encouraged its employees to push its Advantage Loan Program to customers in the lead-up to the IPO. The program provided loans with a 35% interest rate, "but it did not require submission of typical loan documentation, such as an applicant's tax returns or payroll records". "For years, Sterling originated residential mortgages that were rife with fraud to pad its bottom line and then lied about these loans in its IPO and subsequent public filings, defrauding unwitting investors," Justice Department Assistant Attorney General Kenneth Polite Jr. said in a statement. "This proposed guilty plea reflects the nature and seriousness of the wrongdoing and demonstrates the Department of Justice's commitment to protecting the integrity of our public markets, holding corporations accountable for their criminal misconduct, and compensating victims for their losses," he said. Sterling Bancorp merged into Webster Financial Corp. last year. Total losses to non-insider-victim shareholders amounted to just under $70 million. Negotiated as part of the plea deal, the fine will go toward paying restitution to non-insider victims. The lack of criminal charge is to ensure the company pays all it is able to the victims. "This proposed guilty plea holds Sterling accountable for its role in defrauding non-insider victim-shareholders of millions of dollars by originating fraudulent loans through its Advantage Loan Program and filing false securities statements about the Program in its IPO and subsequent annual filings," said Tyler Smith, acting inspector general of the Federal Deposit Insurance Corporation, in a statement.

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today the availability of its annual Crash Course report, which identifies trends impacting the P&C insurance economy, a multifaceted industry advancing the future of personal mobility and safer roadways. The report delivers insights on the convergence of economic, social, and technological shifts that are reshaping driving behaviors, vehicle ownership, automotive insurance and claims handling, collision repair and more. Crash Course 2023 is the 28th edition of CCC’s industry-leading report, which draws insights from the more than $100 billion in transactions processed annually through CCC’s solutions by its 30,000 customers, which include automakers, insurers, collision repairers, lenders, parts suppliers, and more. The report draws from the company’s decades of experience and information derived from more than 280 million claims-related transactions, 50 billion driving miles of driving data, and millions of bodily injury and personal injury protection (PIP) /medical payments (MedPay) casualty claims. “Macroeconomic trends like inflation, supply chain constraints, and labor shortages are putting pressure on an industry that is simultaneously managing through major advancements in vehicle technology, including the growing popularity of advanced driver safety systems (ADAS) and EVs,” said Jason Verlen, CCC’s vice president, product marketing. “Together these factors are shifting insurability and repairability models and related cost and service dynamics. To advance, participants across the ecosystem are unifying around the consumer and leveraging technology with the shared aim of getting drivers back on the road safely, efficiently, and affordably.” Verlen continued, “This year’s Crash Course explores these factors and more, providing data and analysis on the industry’s path forward. We’ve subtitled our report ‘The Era of Experience’ as businesses across the industry navigate the balance between automation, AI, and the human touch, to facilitate richer, more personalized consumer experiences with their customers.” Key topics covered in Crash Course 2023 include:

• Shifts in consumer driving behaviors and the changing nature of auto accidents, resulting in more severe vehicle damage and bodily injury.
• The impact of labor shortages on vehicle repair and medical treatment costs, claim and repair resolution times, and consumers’ experiences with the overall claims process.
• Growing consumer interest in new vehicle technology – ADAS and EVs —and the benefits and subsequent increases in repair complexity.
• Increasing proliferation of advanced technology – AI, mobile, cloud, and the Internet of Things –embedded in claims and repair processes to temper the effects of macro trends and user
• A view into what’s next for the operational future of automakers, insurers, repairers, and other ecosystem providers.

In addition to macro trends and topics, CCC Crash Course 2023 also includes industry-level detail on claims frequency and severity, parts costs and utilization, total loss trends, and more. Download the full report here.  

Ivans® today announced the February 2023 results of the Ivans Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business experienced an increase in average premium renewal rate. Business Owners Policy (BOP) and Commercial Property remain the highest premium renewal rate increases year over year. Month over month, BOP, General Liability, Commercial Property, and Workers’ Compensation experienced increases in premium renewal rate change, while Commercial Auto and Umbrella saw decreases. Premium renewal rate change by line of business for February 2023 highlights include:

• Commercial Auto: 5.64%, down from 5.84% last month.
• BOP: 7.18%, up from 6.87%, at the end of January.
• General Liability: 5.37%, up from 5.34% the month prior.
• Commercial Property: 8.86%, up from 8.67% in January.
• Umbrella: 4.98%, down from 5.59% the month prior.
• Workers’ Compensation: -0.86%, up from -1.85% last month.

Released monthly, Ivans Index is a data-driven report of current conditions and trends for premium rate renewal change of the most placed commercial lines of business in the insurance industry. Analyzing more than 120 million data transactions, the Ivans Index premium renewal rate change measures the premium difference year over year for a single consistent policy. Inclusive of more than 34,000 agencies and 450 insurers and MGAs, the Ivans Index is reflective of the premium rate change trends being experienced by all agencies and insurers across the U.S. insurance market. Ivans Index is available to agencies and insurers as part of Market Insights at markets.ivansinsurance.com. Download the complete Q4 and Year over Year Ivans Index report. About Ivans Ivans is where insurance carriers, agents, and MGAs come together to grow their businesses. Every day, our 34,000 agents and 450 carrier partners plug into technology that empowers them to better determine appetite and eligibility, swiftly produce quotes, get accurate claims and commission updates, automatically communicate policy data, and connect to one another to drive new business. With easier ways to get the day’s work done, insurance professionals can open the door to more revenue without letting complexity in behind it.