Chicagoland Risk Forum Overview

The Chicagoland Risk Forum is set to delve into a variety of impactful topics that were enthusiastically received at the National RIMS Conference.

Here's a sneak peek into what we'll be covering:

Economic and Market Conditions 

  • Economic Volatility: Dive into the complexities of current uncertainties, such as inflation and bankruptcy, and their effects on risk forecasting.

  • Rising Costs & Hard Market: Examine the factors driving increased rates in auto and property insurance.

Claims and Litigation Pressures 

  • Claims Cost Pressures: Discuss the rising trend of large settlements and the influence of third-party litigation funding.

  • AI in Claims Handling: Evaluate the growing role of AI in managing adjuster shortages while ensuring the necessary human touch for complex claims.

Regulatory and Compliance Challenges 

  • Regulatory Uncertainty: Review the ever-evolving regulations concerning climate disclosures and digital assets.

  • Regulatory Evolution: Focus on the need to adapt to new laws regarding climate risk disclosure and data privacy.

Technological Advancements and Cyber Risks 

  • Cyber and Emerging Risks: Analyze the challenges facing the cyber insurance sector amidst evolving threats.

  • Tech-Driven Transformation: Explore how AI and automation are revolutionizing underwriting and customer service.

Talent and Workforce Dynamics 

  • Talent and Technology Challenges: Address the shortage of skilled adjusters and the increasing adoption of AI.

  • Social-Emotional Intelligence: Emphasize the importance of interpersonal skills in a technology-driven workplace.

Captives and Cost Management 

  • Captives and Cost Management: Explore the advantages of captives in controlling costs and customizing coverage solutions.

Emerging Trends and Strategic Initiatives 

  • Climate and Emerging Risks: Discuss strategies for building climate resilience and educating on natural catastrophe coverage.

  • Shifting Distribution & Embedded Insurance: Discover new growth opportunities presented by embedded insurance.