Tag Archives: Triple-I

Insurance Industry

The Insurance Information Institute and The Institutes Announce Plan to Affiliate

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The Two Organizations to Unify Their Voices and Modernize Their Capabilities

The Insurance Information Institute’s (Triple-I) Board of Directors approved plans this month to have the Triple-I enter into an affiliation with The Institutes, and The Institutes’ Board agreed to the affiliation June 24. The terms will be finalized next month.

Peter Miller

“With 60 years of quality work serving as the trusted voice of objective insurance information, the Insurance Information Institute’s brand is invaluable to us. Combining their assets with ours will allow both organizations to turn the page on the next chapter of their operations and sets both of us up for continued long-term success,” said Peter Miller, CPCU, president and CEO of The Institutes, a global provider of risk management and insurance education and research. “Together, we will be better empowered to serve those interested in risk management and insurance.”

Sean Kevelighan

“This forward-looking decision is the culmination of several years of strategic dialogue both internally at the Triple-I and with The Institutes. Taking this next step will further unify our collective efforts when it is needed most, grant both the Triple-I and The Institutes greater access to a deeper bench of resources and expertise, and improve value for Triple-I’s member companies across the country,” said Sean Kevelighan, CEO, Triple-I, a trusted source of unique, data-driven insights on insurance.

The affiliation, which will bring the Triple-I brand into the Malvern, Pennsylvania-based The Institutes structure, reflects the changing landscape of the broader industry and the economy. Moreover, it will unify two trusted data-driven organizations and continues The Institutes’ strategy in recent years to leverage the synergies of like-minded organizations.

For Triple-I, this evolution is the next step in the organization’s pursuit of a modern, transparent, and team-oriented structure that reflects the diversity and breadth of their membership.

Additional details will be announced publicly as the deal is finalized in July.

Insurance Industry

Triple-I at 60: New World, Same Powerful Mission

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Sixty, many say, is the new 40. People living longer and in better health than ever before have opportunities for work, leisure, travel, and self-expression that previous generations could only dream of or regret not having seized.

Insurance has played a critical role in these improved circumstances by absorbing and distributing risks that otherwise would have made many types of investment prohibitively expensive — investment that directly affects everyone’s quality of life. And for the past 60 years, the Insurance Information Institute has supported the property/casualty insurance industry by helping the public understand risks and the products that help mitigate them.

“Property insurance is an integral part of our national economy. It is vital to business enterprise and to the establishment of credit. Nearly every individual American is directly affected by it.”

These words, from a 1959 announcement of the establishment of Triple-I, are as true and relevant now as they were then. But where that announcement referenced “fire, automobile…fidelity and surety, and inland marine insurance,” we would need to mention “cyber, terrorism, business interruption, supply chain, workers compensation, professional and management liability,” along with numerous other products and features that keep emerging to address the changing risk landscape.

The industry’s history of developing forms of coverage to meet businesses’ and individuals’ changing needs is evocatively illustrated in the following, from a 1962 Triple-I ad:

“During the same year that America’s property and casualty insurance companies provided special coverage for the first Telstar communications satellite, they also wrote more than $100,000 in horse and wagon policies. This year will also see a brisk business in false teeth coverage, rain protection, wedding gifts floaters and other unusual forms of insurance.”

As we continue to support the industry by advancing public awareness and understanding, we’re taking advantage of new tools and technologies to do so.  Sixty years ago, print, telephone, and face-to-face communication were the only games in town. Today, we reach broader and more targeted audiences through social media, webinars, blogs, conferences, and more.

A great example is the recent launch of a Risk and Resilience Hub in partnership with Aon and the Colorado State University Department of Atmospheric Science.  The Hub uses data visualization to help people understand natural catastrophe risks and make data-driven decisions when it comes to managing their exposures.

Far from slowing down and feeling creaky at 60, Triple-I is maintaining its strong pace and going where the industry and consumers need us to be.

The 1959 announcement I cited above invited “written or telephone inquiries” from “researchers, editors, writers, educators, students, librarians, civic groups, and the general public.”

Today, you can follow and engage with us on Twitter, Facebook, and LinkedIn. #TripleI60