Profitability pressure in mid-market P&C is no longer isolated to claims. It's forming earlier — in submissions, pricing, and renewals — driven by fragmented data and delayed operational visibility.
2025 delivered $67.9B in net underwriting gains and a 92.9% combined ratio — the strongest calendar-year result in 19 years.
But Verisk and Swiss Re both said the same thing in the same breath: this was a quiet CAT year, not a structural improvement.
Swiss Re forecasts the industry combined ratio reaches 99% by 2026 as rates ease, legal costs rise, and catastrophe variability returns.
The carriers who used 2025 to fix their operating model will have a structural advantage. The ones who read $67.9B as validation will not.
We're unpacking this live on May 14 — a closed-door session for mid-market P&C leaders.
Join the May 14 Briefing60% of broker submissions are never reviewed. Only 25% of what enters the pipeline becomes a written policy.
Underwriters spend 2+ hours daily on manual data entry — the broker moves on before the data is assembled.
Carriers using stale exposure data price the risk they think they wrote — not the risk they actually have.
WTW found enriched predictive modelling recovered $14M per $1B in premium leakage.
7–14% of total carrier spend is lost to leakage — overpayment, missed recovery, weak litigation management.
74% of carriers still run claims on outdated technology. The data problem shows up as a claims problem.
Profitable accounts leave at renewal because no early-warning signal exists.
Only 55% of commercial customers say they will definitely renew — and most carriers see that number only at quarter end.
On May 14, we map how to fix all four — the sequencing, the architecture, and where to start. Join the briefing →
Explains leakage after it happened
Prevents leakage before it starts
The pattern is consistent across carrier sizes. On May 14, we walk through how mid-market carriers are replicating it in 90 days.
Join the May 14 Briefing No recording · No vendor pitch · 25 attendeesThis insight outlines where the leak starts. The May 14 session goes one level deeper — the specific 90-day sequencing, the architecture decisions, and the data domain priorities mid-market carriers are using right now.
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The room closes at 25 seats.
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