You are here:HomeNews CenterInsurance News2004Conning: P/C Industry Expense Revolution Overdue

Conning: P/C Industry Expense Revolution Overdue

Property-casualty insurers' cost of doing business has stagnated over the past 20 years, contrasting with the remarkable efficiency gains achieved by many other industries. ...
June 29, 2004

Property-casualty insurers' cost of doing business has stagnated over the past 20 years, contrasting with the remarkable efficiency gains achieved by many other industries.  Since 1982, for example, the banking industry has reduced its efficiency ratio by 20 percent while the property-casualty industry has remained fairly flat, according to the Conning study, Expense Revolution: Is the Property-Casualty Industry Overdue? The study found significant opportunities in each line of business for improvements in expenses and, by extension, overall financial performance. "We identified these opportunities by using standard industry metrics and by creating nontraditional measures for expense performance," said Bruce Hale, a Conning Research analyst and the report's author. The report is available for sale from Conning by calling (888) 707-1177 or online at http://www.conningresearch.com/.

Filed under: