'Connected' Headline of the Day
US P&C industry achieves best underwriting results in over a decade in 2024 | S&P Global
The net combined ratio for the US property and casualty industry in 2024 reached its lowest level in over a decade, according to an analysis by S&P Global Market Intelligence.
The industry's aggregated property and casualty (P&C) lines posted a net combined ratio of 96.5%, marking the best annual performance since 2013, when it was 96.2%. This figure represents a significant improvement from the previous year's net combined ratio of 101.6%.
The drastic improvement can be attributed to better underwriting results in personal lines of business, which include private auto, homeowners and farmowners insurance. The net combined ratio for personal business lines was 96.7% in 2024, reflecting a year-over-year improvement of approximately 10 percentage points.
In contrast, the aggregated commercial business lines net combined ratio was 96.3% in 2024, a slight deterioration from the 96.2% recorded in the prior year.
News
Acting FEMA Chief Is Ousted After Less Than 4 Months
Less than a month before the start of hurricane season, the acting administrator of the Federal Emergency Management Agency has been fired.
A spokesperson with FEMA offered no reason for the dismissal, but confirmed to Insurance Journal reports that Cameron Hamilton was removed from the post he held since he was appointed by President Donald Trump in late January.
Florida Condo Bill Gives Owners Some Slack But Brings New Insurance Concerns
Florida lawmakers late last week gave final approval to a long-debated condominium bill, one designed to give condo owners a little relief on the high cost of bringing structures up to code.
But the final version of the bill seems to have divided the condo insurance community. Some in the industry now worry that House Bill 913 went too far and may have inadvertently given owners options that could thwart spending on repairs or allow buildings to be undervalued and underinsured.
Announcements
Majesco Doubles Revenue and Expands AI across Core Systems
CEO Adam Elster explains how Majesco’s post-privatization transformation has driven cloud adoption, revenue growth, and embedded AI innovation across both P&C and L&A.
Following its return to private ownership in 2020 through a $16-per-share buyout backed by Thoma Bravo (Chicago), Majesco (Morristown, N.J.) has undergone a sweeping transformation. Freed from the operational inefficiencies of dual listings and complex shareholder dynamics, the company repositioned itself for long-term growth.
“It was a clean break,” says CEO Adam Elster. “Everyone was happy—and we got the freedom to do what we needed to do.”
That freedom has paid off. In the four years since going private, Majesco has more than doubled its revenue—from $140 million to over $300 million—and grown EBITDA from approximately $18 million to over $100 million. Direct written premium (DWP) processed on Majesco platforms jumped from $36 billion to $66 billion in just one year.
CCC Intelligent Solutions announces executive departure
CCC (WA:CCCP) Intelligent Solutions Holdings Inc. (NASDAQ:CCCS), a leader in prepackaged software services with a market capitalization of $5.9 billion, has announced the upcoming departure of a key executive.
Marc Fredman the company’s Senior Vice President and Chief Strategy Officer, has informed the company of his intention to resign by September 30, 2025. The announcement was made public through an 8-K filing with the Securities and Exchange Commission dated May 7, 2025. The company maintains impressive gross profit margins of 76% and generated revenue of $969 million in the last twelve months.
Fredman’s decision to step down from his current role was disclosed on May 7, 2025, but he is expected to continue supporting the company in a part-time advisory role after his resignation. The company expressed gratitude for Fredman’s significant contributions during his decade-long tenure, recognizing his service to the company, its employees, and customers, as well as his role in CCC’s success.
According to InvestingPro, the company’s net income is expected to grow this year, with analysts maintaining a positive outlook. InvestingPro offers 8 additional key insights about CCCS’s financial performance and outlook.
The company, headquartered in Chicago, Illinois, and incorporated in Delaware, has not yet announced a successor for Fredman’s position.
Commentary/Opinion
Connectorship
FROM KORN FERRY SPECIAL EDITION 5/11/25 Gary Burnison, Korn Ferry CEO
Same place, same time—years ago. And neither of us had any idea … I met recently with an executive who I didn’t know. As we talked, I was intrigued to learn he was passionate about music.
“I used to perform,” he told me.
“Just curious—what was the strangest experience you’ve had on stage?” I asked him.
With that he gave me a puzzled look—clearly not sure where I was going with this off-the-cuff question.
To fill the pause, I stepped in. For me, there was only one answer. So, I quickly rattled off everything I remembered: “Royce Hall—UCLA. There’s this world-famous pianist—playing Rachmaninoff’s Third Piano Concerto. And suddenly … he just froze up. Wouldn’t play another note. The entire place was stunned into silence …”
With every detail that punctuated my story, the leader interjected—speaking more to himself than to me: “Yeah, yeah, yeah … that’s exactly what happened that night.”
Then he delivered the punchline: “I was there—playing cello in the orchestra.”
My jaw almost dropped.
No doubt, life and leadership are filled with experiences that are equal parts coincidence and happenstance. However, the art of connecting in meaningful, authentic ways requires intentionality and effort.
Our firm’s psychologists call it connectorship—and there are three dimensions involved: trust, authenticity, and organic shared experiences.
For leaders, it may be more natural to think about setting strategy and driving growth … But how often do we really think of creating connections—looking up from spreadsheets and looking out to people, relationships, and the experiences we share?
It’s the emotional side of leadership—and it never goes out of style. Nor can it be replaced, even with tomorrow’s technology.
Research shows that people hunger for connection and thirst for friendships. It’s our human nature. In fact, time and again, studies show that most people have fewer friends than they want.
So, what bridges that gap? It’s possible the void can be filled in part as AI becomes intertwined in our lives—offering more connections than people currently have. But AI cannot truly replicate what it genuinely feels like to be loved, to belong—and share experiences.
For leaders, there’s a lesson here.
Over the years, while traveling overseas on business, I have seen the musical Mamma Mia! multiple times, in different countries.
Often, I am not able to understand one word, but I always feel an overarching sense of connection through an emotional shared experience of song and story. Complete strangers, not even able to speak the same language—always dancing in the aisles together to the songs we all know so well.
And that brings us back to that unforgettable night when everyone in that UCLA concert hall—audience and performers alike—held their breath. As we sat there, the conductor slowly walked over, leaned down, and whispered something to the pianist. After hearing those words, immediately this star performer played with a passion that was palpable to everyone.
Throughout the performance, one question lingered on my mind: What did the conductor say? What could he have possibly uttered that turned the entire performance around—from silence to symphony? Later I learned of his simple but profound message: “We do it because we love the music.”
That’s the power of the experiences we share—and the connections we create.
The Insurance Hiring Paradox in an Era of Automation | Insurance Innovation Reporter
Progressive’s plan to hire 12,000 employees bucks industry norms—and offers a glimpse into what strategic workforce growth looks like in a sector otherwise focused on automation and cost control.
The insurance industry is caught in a paradox: it is simultaneously under pressure to automate and is also under-resourced to support meaningful growth. That’s what makes Progressive’s recent announcement to hire 12,000 employees in 2025 so striking—not just because of its scale, but because of what it reflects about the company’s current position and what it means for the broader insurance industry.
This move comes at a time when most insurers are navigating uncertainty. Market-wide, carriers are focused on expense optimization, reducing loss costs, and productivity gains, driven by economic caution and the promise of artificial intelligence and digital transformation. In this climate, hiring is often viewed as a last resort. Progressive’s announcement suggests a different calculation: not hiring to fix inefficiency, but to meet demand with an existing operational foundation that supports growth.
After growing premiums by over 20 percent in 2024, Progressive is expected to sustain a similar rate in 2025. That’s uncommon in today’s market. More notably, the growth isn’t just financial—it’s operational, with policies in force (PIF) rising at a comparable pace. That level of unit expansion signals a customer acquisition engine that’s functioning with discipline and consistency. Supporting it requires staff—not eventually, but proactively.
Peter McMurtrie is a Partner in the Insurance Practice for West Monroe, a global business and technology consulting firm. He helps guide carriers, brokers, and private equity investors through modernization—transforming operations, maximizing data, and responding to complex market risks with precision
Curators' Corner: Alan Demers and Stephen Applebaum

Curators' Corner
Most recently published thought leadership articles published in 2025
- (Re)defining Empathy in Insurance
- AI CAN FIX EVERYTHING IN INSURANCE
- Rising Uncertainty: Risk & Opportunity for insurance Resilience
- Trust, Personalization and Transparency: Foundational for Premium Accuracy
- P&C Insurance: Mind the Gap(s)
SEE ALL ARTICLES AT INSURTECH CONSULTING BLOG
Payments
The Competitive Advantage of Smarter Payouts | Insurance Thought Leadership
Insurance providers must modernize payment systems as slow, inflexible claims payouts drive customers to switch carriers.
In today's insurance market, policyholders have more choices than ever. Switching providers is quick, easy, and often encouraged by comparison tools and challenger brands. And while price has traditionally been the battleground, it's now only one part of a much bigger picture. According to new research from Nuvei, nearly half of policyholders who switch insurers do so for reasons unrelated to cost.
At the center of this shift lies the claims experience, and more specifically, the speed and flexibility of payouts to customers.
Why faster payouts are the future of customer loyalty in insurance
Russell Curzon is vice president of commercial sales at Nuvei.
Telematics, Driving & Insurance

Roadzen Partners with One of the World’s Largest Telematics
Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the intersection of insurance and mobility, announced today that its wholly owned UK-based subsidiary, Global Insurance Management Limited (“GIM”), has partnered with one of the world’s largest telematics providers to deliver an integrated, technology-led vehicle protection solution for the UK automotive retail and finance markets.
The new solution combines real-time telematics-enabled asset tracking with Guaranteed Asset Protection (GAP) insurance. Designed for seamless integration into both auto dealership showrooms and online OEM sales channels, the bundled product offers vehicle owners theft deterrence, real-time monitoring, and financial protection—all through a single, digital-first platform powered by Roadzen’s Global Dealer Network (GDN) platform. With dealership clients already onboarding, Roadzen believes that the partnership is poised to generate seven-figure revenues annually.
The strategic three-year partnership leverages GIM’s digital insurance distribution with the telematics partner’s best-in-class connected vehicle security technology, already deployed by more than 30 global vehicle manufacturers—including each of the top 10 OEMs—as well as major fleet operators across industries. It directly addresses a growing challenge in the UK, where rising vehicle theft is driving insurance premiums higher. The UK motor insurance market exceeds £17 billion annually, offering a substantial opportunity for innovative, tech-led solutions. The initial rollout will focus on the UK, with phased expansion into European markets planned.
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