Triple-I’s 2024 Annual Report Underscores Commitment to Education, Research and Member Value

Business Wire

MALVERN, Pa.--(BUSINESS WIRE)--
The Insurance Information Institute (Triple-I) has published its 2024 Annual Report, Now More Than Ever, highlighting the organization’s accomplishments in an era of uncertainty, evolving risks and rapid market shifts.

“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,” said Sean Kevelighan, CEO, Triple-I, in his Annual Report letter. “With more than 22,000 earned media mentions, our thought leadership shapes conversations on issues that matter most: from natural disasters and market recoveries to third-party litigation funding and emerging risks, such as cybersecurity and generative AI.”

Kevelighan noted that Triple-I has been at the forefront of informing U.S. consumers, business leaders, lawmakers and other stakeholders about how legal system abuse impacts the cost of insurance and advocating for comprehensive legislative reforms.

“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,” Kevelighan said.

Kevelighan also pointed out that Triple-I’s rapid response efforts – covering events such as hurricanes Helene and Milton, the Baltimore bridge collapse, California’s risk crisis and Florida’s market stabilization – demonstrated Triple-I’s unwavering commitment to keeping consumers and the media informed.

“Now is an ideal time to reflect on the challenges and opportunities of the past while our commitment to advancing knowledge and fostering resilience in our industry,” said Matt McHatten president and CEO, MMG Insurance, and chair of Triple-I's Executive Leadership Committee (ELC). “This organization thrives because of our dedicated members who drive the industry forward and make a meaningful impact every day.”

Looking ahead, McHatten noted that the ELC has identified several key initiatives vital to Triple-I's members. In addition to legal system abuse, issues include management of claims costs; climate risk and resilience; innovation and AI; and addressing threats to insurance affordability and availability.

“Our strength lies in collaboration and a shared vision,” Kevelighan said. “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 has provided the best-in-class economic research incorporated into its quarterly, members-only briefings, Insurance Economics and Underwriting Projections: A Forward View. Triple-I consistently delivers data-driven insights about the economic performance of U.S. auto, home and business insurers; how the industry has managed higher replacement costs, and details on the underwriting trends seen in various business lines.

Triple-I’s Chart of the Week series helps members anticipate and adapt to industry trends. Building on its reputation, Triple-I launched the All Eyes on Economics podcast series in 2024 to provide timely, data-driven insights into key industry developments. Triple-I also offers members exclusive access to custom analytics, tailored cost estimates and confidential support in aligning economic insights with carriers’ specific data and geographic footprints.

About the Insurance Information Institute (Triple-I)

Since 1960, the Insurance Information Institute (Triple-I) has been the trusted voice of risk and insurance, delivering unique, data-driven insights to educate, elevate and connect consumers, industry professionals, policymakers and the media. An affiliate of The Institutes, Triple-I represents a diverse membership accounting for nearly 50% of all U.S. property/casualty premiums written. Our members include mutual and stock companies, personal and commercial lines, primary insurers and reinsurers – serving regional, national and global markets. Brokers, agents, consultants, educators and other insurance industry professionals are among Triple-I’s associate members.

About the Institutes

The Institutes are a global not-for-profit comprising diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes’ nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.