The Insurance Information Institute (Triple-I) has released its 2024 Annual Report, titled "Now More Than Ever." The report focuses on the organization's efforts amidst unpredictable conditions, changing risks, and swift shifts in the market.
CEO Sean Kevelighan highlighted the institute’s increased influence. “Communication is at the heart of what we do. Over the past year, we have elevated our impact and reach, reinforcing our position as the most trusted and quoted source in the property/casualty insurance industry,” he stated. Kevelighan emphasized Triple-I's crucial role in discussions on topics ranging from natural disasters to cybersecurity and generative AI.
In terms of advocating for legislative reforms, Kevelighan noted, “Our research and communication efforts have brought critical attention to this issue, ensuring policymakers and industry leaders have the information they need to address rising litigation costs and their effects on insurance markets.”
Triple-I’s commitment to rapid response during emergencies like hurricanes Helene and Milton, the Baltimore bridge collapse, and other significant events was also noted by Kevelighan.
Reflecting on previous challenges and future opportunities, Matt McHatten, president and CEO of MMG Insurance and chair of Triple-I's Executive Leadership Committee, remarked, “This organization thrives because of our dedicated members who drive the industry forward and make a meaningful impact every day.”
McHatten identified future priorities for the Executive Leadership Committee, such as managing claims costs, climate risk, resilience, innovation, AI, and concerns about insurance affordability and availability.
Kevelighan added, “Our strength lies in collaboration and a shared vision. In partnership with Triple-I’s team of experts, the ELC is here to listen, learn and work alongside our members to ensure our association remains dynamic, inclusive and forward-thinking.”
Over the past year, Triple-I provided high-quality economic research, as seen in its quarterly, members-only briefings and podcast series, offering insights into industry developments and trends. The organization also continues to provide members with access to tailored analytics and cost estimates.