How AI Is Changing the Casualty Insurance Game with Jayson Taylor

experience.So I mentioned we're here, uh, on the exhibit hall floor at the, the Riskworld, uh, 2026 Conference.

What are your initial takeaways? So it's Tuesday.

Yes.

We're about right smack in the middle of the entire conference.

Um, this is the largest gathering of, of P&C professionals, uh, normally in the US.

Um, any initial thoughts, takeaways, themes from, from this year's conference in your eyes?

I'd say, so, so first and foremost, this is one of the, the best insurance events that, to, to be able to go to.

So many people come here, not only from the US, but from around the globe, and being able to see so many people in a short time is, is, is a great thing.

I think the, the one takeaway I have, probably from the casualty side is, is, um, there's a lot of rate fatigue.

So, and, and what I mean by that is in casualty, um, we, we have such unknowns.

Um, we're, we're selling insurance for events that not only happen in the next year or two, um, but could be triggered in 20 years too.

So, so with that, we've seen, um, a, a lot of litigation happen in the US, a lot of old claims and a lot of very expensive claims happen.

Um, and for those reasons, rates have been going up for a very long time.

Uh, and, and there's rate fatigue by our customers.

So from the commercial auto side, we've had 57 quarters, about 14 years of rates just going up and up and up and up.

On the liability side, we've had about eight years and 31 quarters of rates just kind of going up and up and up and up.

And, and they're kind of like, "Okay, hey, when is this gonna end?" And, and I think that's kind of the one thing I've heard in this.

And at the same time, we've had claim fatigue, where we keep on having to pay claims and, and those claims costs keep on going up and up and up and up.

So it's, it's kind of saying, okay, is there a new approach we can take? Um, or, or how do we get ahead of this, or how do we message, um, and what are we gonna do about this? So, so that's probably been the one resounding message I, I've kind of heard of saying, "Okay, hey, i- is it just another year of rates going up? What's going on? What are you seeing?" Um, and then trying to have a, a more, um, thoughtful conversation about, okay, what do we do around this? And, and, um, um, how do we address this?

Sure.

I wanna stay with that for a second because as, as a carrier, you know, you have that conversation with either a policyholder or a broker about rate increases.

Yes.

So w- how do you, how do you message that?

Uh, it, it's a tough one.

Um, it's, it's really just transparency.