As companies face increased exposure to professional and management liabilities, it’s more important than ever to stay on top of emerging market trends. Leaders from Argo Pro recently discussed the strategies they use to meet emerging challenges in a recent LinkedIn Live.
- Monitoring trends affecting the market and their insureds. Argo leaders constantly monitor ever-evolving ESG standards and SEC guidelines, as well as other industry trends like inflation – knowing they can’t control them but that they can prepare for them. “What we can control is our response to it, how we innovate, and how we build our businesses and stay ahead,” says Rich Fachet, SVP of Underwriting, Head of Financial Institutions.
- Innovating customized solutions to meet clients’ evolving needs. Every insured is impacted by evolving trends in different ways. That’s why Argo Pro underwriters develop unique solutions for each of their clients. “We dig deep into the particulars of each company,” says Christine Schneider, SVP of Underwriting, Head of Public Commercial. “We look at the challenges they have and the opportunities they also have and determine proper coverage.”
- Partnering with brokers to find solutions where other carriers might not. Deborah Egel-Fergus, Regional Underwriting Director, Lawyers Professional Liability, often hears from brokers that the market isn’t providing coverage options their clients need. “If the carriers are cutting back capacity or if they’re pulling out of the market, we should be able to – together, collaboratively – figure out a way to take advantage of those opportunities,” says Egel-Fergus.
- Responding quickly to fast-changing situations. Market trends can happen fast, so it’s important to be responsive when clients face new challenges. “Argo is very nimble in spirit, and we can respond very quickly to requests by brokers and insureds,” says Schneider. “We have an exceptional team of underwriters, lawyers and actuaries to help bring positive results to insureds and brokers.”
- Training the next generation to provide consistent service. Argo provides training and career development, as well as mentorship, to new hires, ensuring that their high standard of service carries on through evolving market trends. “There’s an opportunity for us to continue to become trusted advisors – to train the younger folks and help educate the brokers as well,” says Egel-Fergus.
These strategies are just some of the ways Argo Pro leaders work to provide the best coverage options for businesses with professional and management liability risks.
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