Charlie Flynn

Big I Illinois was kind enough to ask me (along with some of the cool kids like Chris Cline, Joey Bouchard, and Colby Tunick, PMP) to contribute my thoughts on "The State of InsurTech" in their June 2024 e-Insight Conversations Series. I'll drop the link to the full article in the comments but I can summarize here with two quick points: Agents should be thoughtful about their tech stack, especially as "AI" powered startups enter the industry. - In my opinion, we are due for a really dynamic period as entrepreneurs try to wrangle the power of LLMs. - I think you'll see a rapid rise in solutions powered by LLMs targeting agencies but likely an equally rapid fall as they all compete with each other (and ChatGPT). - Patrick 🍀 McBride wrote about some of the benefits he's seeing using these tools in this issue as well. Independent agents have never been more influential are the technology being built. - There are a lot of really smart folks building in this industry and we all want to hear from you, have you test drive our product, and give us feedback. - Agents can design the solutions they want and need by using this influence to guide products being built for them by getting involved with organizations like 101 Weston Labs. Check out the article and let me know what your thoughts are on the state of InsurTech! #InsurTech #Insurance #InsuranceAgents

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The insurance industry in Illinois has been exceptionally strong for decades. Insurers have been attracted to Illinois for a wide range of reasons. A healthy and stable marketplace are the driving factors that draw insurers to the state. Legislation that will destabilize the marketplace and drive-up costs for consumers is not the answer. HB 4611 will have an adverse effect on senior citizens as the average senior will see an increase in their automobile rates by $303. Illinois consumers have benefited significantly from auto insurance rates in Illinois, as Illinois is ranked 31st in affordability while being the 7th largest state. Auto insurance rates in Illinois are 23% lower than the national average.  The best and most fair way to price policies is to use a wide variety of actuarially sound and predictive driving and non-driving rating variables. This leads to the most accurate pricing and assures that no single rating variable has a disproportionate impact on an individual’s premium. When insurers can accurately and responsibly underwrite and price policies, consumers benefit with lower rates overall, more choices, and greater market and price stability, which we have seen in Illinois for years. We urge you to proactively contact your local legislators to Vote NO on HB 4611 and any legislation restricting the use of actuarially sound underwriting practices.

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It's #NationalInsuranceAwarenessDay! Before your policy renews, it's a good idea to check in with your independent agent to make sure you are properly insured for the upcoming year.

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Well, this has been the gift that keeps on giving... This cyber-ransom threw roughly 50% of all dealerships in America (15,000 ) back into the stone ages as their sales & service systems were compromised causing many dealerships to return to manual tracking sales & inventory. Now following the attack, CDK Global has mentioned to their clientele that they would not be operation until after June.... So, if cyber has been on your mind - I would highly recommend having your agent look at options. Or if you need someone to assist, please reach out to me and my team as we would love to help you protect your business! At Ark, we help you navigate through unexpected storms with ease! #cyberinsurance #iscyberworthit #whyshouldibuycyber

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