The years following high school have always been a time of uncertainty for students choosing to pursue post-secondary education. The choices regarding college and choosing a major have big implications on a student’s career trajectory, not to mention financial situation, for years to come.
The growing uncertainty concerning the format of higher education due to COVID-19, the post-graduate job market, and the long-term impact of student debt leaves many individuals wondering if they will ever earn enough to free themselves from student loan debt.
This landscape presents significant opportunity for insurtechs and traditional insurance carriers to create sustainable solutions that capture a portion of the $1.54 trillion student loan market, while also providing students with post-graduation financial stability. Milliman’s Andrew Groth and Katherine Pipkorn explore some solutions to the student loan crisis in this article.
The freight volume that trucks move around the United States has increased annually since the global financial crisis. Evolving business dynamics, however, including a shortage of available commercial truck drivers, has forced companies to search for new solutions to fill needed positions and increase capacity.
One viable solution is autonomous trucking technology, which can help streamline transportation logistics and meet demand. As the momentum behind autonomous trucking technology grows, insurance companies and reinsurers of self-insured fleets must begin formulating approaches to commercial autonomous vehicle (AV) technology.
In this article, Milliman actuary Andrew Groth explores the steps insurers should use to investigate the feasibility of offering new products for a developing autonomous trucking industry. He also examines the impact of autonomous trucking on their current books of business.
There is a trickle-down effect of the COVID-19 pandemic that permeates almost all aspects of life. In March, the Federal Motor Carrier Safety Administration issued an emergency declaration to suspend long-haul trucking hours of service regulations that have been in place since the 1930s. The goal of this unprecedented declaration: to allow cargo distribution networks to operate as efficiently as possible during these times of rapidly changing directives from federal and local governments.
While regulations for commercial trucking have been eased, other drivers have either been mandated to stay off the road or have fewer reasons to leave their homes. The net effect of that seesaw is crucial to the safety of truckers in the coming months and subsequently will be of interest to commercial auto insurers. In this article, Milliman’s Paul Anderson and Andrew Groth discuss COVID-19’s potential impact on the commercial auto insurance industry.