Innovation & Co-Creation Through Collaboration and Expert Advice

Verisk’s new Claims Advisory Board provides strategic guidance on ecosystem solutions

By Maroun S. Mourad

Claims is at the heart of the insurance business’ core mission to enhance resilience. It’s the industry’s key value proposition and the ultimate moment of truth when we, as an insurance ecosystem, fulfill our most fundamental mission to put people, communities, and businesses back on their feet after a loss.

Fulfilling that mission has become more important and challenging than ever before. Headwinds abound, such as:

• A $32 billion underwriting loss in the U.S. in the first nine months of 2023
• Longer claims cycle times, leading to lower customer satisfaction
• The retirement of experienced professionals, leaving a significant knowledge gap

To effectively navigate these challenges, restore policyholders quickly, and help the industry return to profitability requires greater collaboration and a more connected claims ecosystem .

At Verisk, we greatly value customer-guided collaboration and co-creation . It’s why we have well over 300 ecosystem connections with various industry partners. We also value listening and learning from others to help move the industry forward. And that’s why we’re extremely enthusiastic about our new Verisk Claims Advisory Board.

Composed of five former claims executives, board members bring a wealth of experience across various lines of business, markets, geographical regions, carriers, and disciplines. This “dream team” of advisors includes:

• Eric Brandt , a high-impact executive leader with more than 30 years’ experience leading technology and operations across consumer, commercial, and group benefits lines of business. He has held C-Suite roles at insure-techs, niche specialty casualty firms, and Fortune 100 companies. His current role is President, Second Horizon Solutions, LLC where he is focused on advisory, consultancy and working with nonprofits.
• Darla Finchum , a property and casualty industry veteran currently working as an independent consultant and advisor to the industry focusing on insurtech companies such as HIMarley. Darla also spends time providing executive coaching to young professionals. Prior to her current consulting and coaching role, she was head of the Integration Management Office for Farmers Group, Inc.
• Grace Hanson , a former C-suite executive with startup insurers, insurtechs, and legacy carriers. Her career spans multiple commercial and personal product lines in the U.S., Bermuda, London, and global markets. She was an early adopter of technology, data analytics, and machine learning models within the claims ecosystem as Hippo Analytics’ first Chief Claims Officer, Global CCO for Hiscox Plc and CCO of Homesite..
• Kenneth Rosen , president & founder of Rosen Consulting Solutions, LLC, an organization focused on the property & casualty insurance vertical. Rosen is focused on advising senior leaders of companies that support the P&C industry to better serve customers while driving efficiencies and growing revenue. Previously, Ken served as the Chief Claims Officer of USAA as well as the Executive Vice President and Chief Claims Officer of the Allstate Corporation.
• Mike Sieger , who brings extensive experience and leadership in the automotive insurance industry from over three decades with Progressive. Mike possesses strong public company executive management experience, as well as significant strategic planning and operational experience. Mike retired from Progressive in January 2022, where he served as its Claims President since 2015 and currently serves on several boards.

These highly experienced great minds will play a critical role in providing ongoing guidance for our Claims Solutions leadership as we continue to deliver innovative and impactful solutions for the industry to help individuals, businesses, and communities recover after a loss.

You can also hear from some of these leaders in-person during our upcoming Elevate Conference in Salt Lake City in February. Hope to see you there.