<br /> Developing New Ideas Blackstone Steers New Prudential Executive Leads ISSUES & ANSWERS:<br /> For Programs and Specialty Asset Management Course Insurer’s Strategic Shift Programs & Wholesale Business<br /> Page 28 Page 32 Page 38 Pages: 21-27<br /> May 2018 • Volume 119 • Issue 5 www.bestreview.com<br /> A.M. BEST’S MONTHLY INSURANCE MAGAZINE<br /> Internet giants move in to<br /> t<br /> ake a bite out of insurance.<br /> Page 44<br /> Emerging Technology Section<br /> Pages 43-72<br /> Stone houses.<br /> Aluminum bats.<br /> Our client<br /> relationships.<br /> (Things that last.)<br /> At Maiden Re, we take a long-term interest in your success. We listen intently,<br /> developing a deep understanding of your bus<a title="Best's Review - May 2018 Edition page 1" href="http://viewer.zmags.com/publication/8d5cc1b9?page=1"> Developing New Ideas Blackstone Steers</a> <a title="Best's Review - May 2018 Edition page 2" href="http://viewer.zmags.com/publication/8d5cc1b9?page=2"> Stone houses. Aluminum bats. Our client relatio</a> <a title="Best's Review - May 2018 Edition page 3" href="http://viewer.zmags.com/publication/8d5cc1b9?page=3"> From the Editor's Desk Nibbling at the Edges </a> <a title="Best's Review - May 2018 Edition page 4" href="http://viewer.zmags.com/publication/8d5cc1b9?page=4"> EMERGING TECHNOLOGY Contents 43-72 In this spe</a> <a title="Best's Review - May 2018 Edition page 5" href="http://viewer.zmags.com/publication/8d5cc1b9?page=5"> ------------------------ $150,000,000 Senior Rev</a> <a title="Best's Review - May 2018 Edition page 6" href="http://viewer.zmags.com/publication/8d5cc1b9?page=6"> Contents 28 A Capital Idea 32 Building an AUM SW</a> <a title="Best's Review - May 2018 Edition page 7" href="http://viewer.zmags.com/publication/8d5cc1b9?page=7"> SOS IS NOT A DISTRESS CALL. IT MEANS Strategic O</a> <a title="Best's Review - May 2018 Edition page 8" href="http://viewer.zmags.com/publication/8d5cc1b9?page=8"> Best’s Review Interactive @ www.bestreview.com D</a> <a title="Best's Review - May 2018 Edition page 9" href="http://viewer.zmags.com/publication/8d5cc1b9?page=9"> ® Reinsurers Wonder How Big a Role They'l</a> <a title="Best's Review - May 2018 Edition page 10" href="http://viewer.zmags.com/publication/8d5cc1b9?page=10"> Executive Changes Department Distribution </a> <a title="Best's Review - May 2018 Edition page 11" href="http://viewer.zmags.com/publication/8d5cc1b9?page=11"> </a> <a title="Best's Review - May 2018 Edition page 12" href="http://viewer.zmags.com/publication/8d5cc1b9?page=12"> Department Property/Casualty sProgressive </a> <a title="Best's Review - May 2018 Edition page 13" href="http://viewer.zmags.com/publication/8d5cc1b9?page=13"> Insurance Marketing Life Changes NEW YORK </a> <a title="Best's Review - May 2018 Edition page 14" href="http://viewer.zmags.com/publication/8d5cc1b9?page=14"> Best's Calendar Best's Calendar: Trade Shows/Con</a> <a title="Best's Review - May 2018 Edition page 15" href="http://viewer.zmags.com/publication/8d5cc1b9?page=15"> INSTITUTISM no. 132 When you think you know eve</a> <a title="Best's Review - May 2018 Edition page 16" href="http://viewer.zmags.com/publication/8d5cc1b9?page=16"> A Global Conversation Department Tech Talk Expe</a> <a title="Best's Review - May 2018 Edition page 17" href="http://viewer.zmags.com/publication/8d5cc1b9?page=17"> “A s we see data and technology changi</a> <a title="Best's Review - May 2018 Edition page 18" href="http://viewer.zmags.com/publication/8d5cc1b9?page=18"> Next Wave Department I 've often written a</a> <a title="Best's Review - May 2018 Edition page 19" href="http://viewer.zmags.com/publication/8d5cc1b9?page=19"> Spotlight on Flood Insurance FEMA Tests Cat Bond</a> <a title="Best's Review - May 2018 Edition page 20" href="http://viewer.zmags.com/publication/8d5cc1b9?page=20"> Risk Adviser Insight Get Smart Brokers play an </a> <a title="Best's Review - May 2018 Edition page 21" href="http://viewer.zmags.com/publication/8d5cc1b9?page=21"> Technology On Schedule Insight New changes to t</a> <a title="Best's Review - May 2018 Edition page 22" href="http://viewer.zmags.com/publication/8d5cc1b9?page=22"> Insight Regulatory/Law A Cresting Wave State cyb</a> <a title="Best's Review - May 2018 Edition page 23" href="http://viewer.zmags.com/publication/8d5cc1b9?page=23"> Special Advertising Section ISSUES & ANSWERS: </a> <a title="Best's Review - May 2018 Edition page 24" href="http://viewer.zmags.com/publication/8d5cc1b9?page=24"> </a> <a title="Best's Review - May 2018 Edition page 25" href="http://viewer.zmags.com/publication/8d5cc1b9?page=25"> SPECIAL ADVERTISING SECTION ssues &</a> <a title="Best's Review - May 2018 Edition page 26" href="http://viewer.zmags.com/publication/8d5cc1b9?page=26"> Developing programs is a discipline. Nationwide'</a> <a title="Best's Review - May 2018 Edition page 27" href="http://viewer.zmags.com/publication/8d5cc1b9?page=27"> SPECIAL ADVERTISING SECTION ssues &</a> <a title="Best's Review - May 2018 Edition page 28" href="http://viewer.zmags.com/publication/8d5cc1b9?page=28"> WHY MAKE RISK RISKIER? WSIA members are experts.</a> <a title="Best's Review - May 2018 Edition page 29" href="http://viewer.zmags.com/publication/8d5cc1b9?page=29"> SPECIAL ADVERTISING SECTION ssues &</a> <a title="Best's Review - May 2018 Edition page 30" href="http://viewer.zmags.com/publication/8d5cc1b9?page=30"> Specialty Coverage A Capital Idea Cultiva</a> <a title="Best's Review - May 2018 Edition page 31" href="http://viewer.zmags.com/publication/8d5cc1b9?page=31"> S everal years ago, Brit Insuran</a> <a title="Best's Review - May 2018 Edition page 32" href="http://viewer.zmags.com/publication/8d5cc1b9?page=32"> Specialty Coverage “It took about 18 months of h</a> <a title="Best's Review - May 2018 Edition page 33" href="http://viewer.zmags.com/publication/8d5cc1b9?page=33"> In developing a new product, it is useful to incl</a> <a title="Best's Review - May 2018 Edition page 34" href="http://viewer.zmags.com/publication/8d5cc1b9?page=34"> Asset Management Building an AUM SWAT Team Form</a> <a title="Best's Review - May 2018 Edition page 35" href="http://viewer.zmags.com/publication/8d5cc1b9?page=35"> “Mostly what we're trying to bring is a high-le</a> <a title="Best's Review - May 2018 Edition page 36" href="http://viewer.zmags.com/publication/8d5cc1b9?page=36"> Asset Management Blunt said.“We want to be that </a> <a title="Best's Review - May 2018 Edition page 37" href="http://viewer.zmags.com/publication/8d5cc1b9?page=37"> “That's a bad combination: when your assets grow </a> <a title="Best's Review - May 2018 Edition page 38" href="http://viewer.zmags.com/publication/8d5cc1b9?page=38"> Asset Management Namely, Blackstone bel</a> <a title="Best's Review - May 2018 Edition page 39" href="http://viewer.zmags.com/publication/8d5cc1b9?page=39"> Strategic Insight Powered by A.M. Best </a> <a title="Best's Review - May 2018 Edition page 40" href="http://viewer.zmags.com/publication/8d5cc1b9?page=40"> Life Insurance “We felt there was a need for co</a> <a title="Best's Review - May 2018 Edition page 41" href="http://viewer.zmags.com/publication/8d5cc1b9?page=41"> Pioneering Pension Change Phil Waldeck, credited </a> <a title="Best's Review - May 2018 Edition page 42" href="http://viewer.zmags.com/publication/8d5cc1b9?page=42"> Life Insurance failed deal. He declined to ident</a> <a title="Best's Review - May 2018 Edition page 43" href="http://viewer.zmags.com/publication/8d5cc1b9?page=43"> “It's a story of innovation, collaboration and pe</a> <a title="Best's Review - May 2018 Edition page 44" href="http://viewer.zmags.com/publication/8d5cc1b9?page=44"> Life Insurance nearly $300 billion in pension tr</a> <a title="Best's Review - May 2018 Edition page 45" href="http://viewer.zmags.com/publication/8d5cc1b9?page=45"> Technology EMERGING TECHN N ew techn</a> <a title="Best's Review - May 2018 Edition page 46" href="http://viewer.zmags.com/publication/8d5cc1b9?page=46"> Technology: Internet Giants Internet giants move</a> <a title="Best's Review - May 2018 Edition page 47" href="http://viewer.zmags.com/publication/8d5cc1b9?page=47"> “That's both frightening and enthralling,” C</a> <a title="Best's Review - May 2018 Edition page 48" href="http://viewer.zmags.com/publication/8d5cc1b9?page=48"> Technology: Internet Giants “These partnerships </a> <a title="Best's Review - May 2018 Edition page 49" href="http://viewer.zmags.com/publication/8d5cc1b9?page=49"> Case Study: The Apple-Allianz Alliance A llianz </a> <a title="Best's Review - May 2018 Edition page 50" href="http://viewer.zmags.com/publication/8d5cc1b9?page=50"> Technology: Internet Giants “The insurer's brand</a> <a title="Best's Review - May 2018 Edition page 51" href="http://viewer.zmags.com/publication/8d5cc1b9?page=51"> Plug into Best's State Rate Filings® </a> <a title="Best's Review - May 2018 Edition page 52" href="http://viewer.zmags.com/publication/8d5cc1b9?page=52"> Technology: China Platforms BAT Takes a Swing at</a> <a title="Best's Review - May 2018 Edition page 53" href="http://viewer.zmags.com/publication/8d5cc1b9?page=53"> China's tech giants are transforming the insuranc</a> <a title="Best's Review - May 2018 Edition page 54" href="http://viewer.zmags.com/publication/8d5cc1b9?page=54"> Technology: China Platforms “Through the partner</a> <a title="Best's Review - May 2018 Edition page 55" href="http://viewer.zmags.com/publication/8d5cc1b9?page=55"> BAT Moves Into Insurance Firm </a> <a title="Best's Review - May 2018 Edition page 56" href="http://viewer.zmags.com/publication/8d5cc1b9?page=56"> Technology: China Platforms “Insurers who have e</a> <a title="Best's Review - May 2018 Edition page 57" href="http://viewer.zmags.com/publication/8d5cc1b9?page=57"> Best's Insurance Reports® Gives You a Panoramic </a> <a title="Best's Review - May 2018 Edition page 58" href="http://viewer.zmags.com/publication/8d5cc1b9?page=58"> Technology: Insurtech Accelerators ACCELERATING </a> <a title="Best's Review - May 2018 Edition page 59" href="http://viewer.zmags.com/publication/8d5cc1b9?page=59"> AHEAD Technology: Insurtech Accelerators 157% c</a> <a title="Best's Review - May 2018 Edition page 60" href="http://viewer.zmags.com/publication/8d5cc1b9?page=60"> Technology: Insurtech Accelerators “There isn't </a> <a title="Best's Review - May 2018 Edition page 61" href="http://viewer.zmags.com/publication/8d5cc1b9?page=61"> Getting In on the Action The insurance indus</a> <a title="Best's Review - May 2018 Edition page 62" href="http://viewer.zmags.com/publication/8d5cc1b9?page=62"> Technology: Insurtech Accelerators but every app</a> <a title="Best's Review - May 2018 Edition page 63" href="http://viewer.zmags.com/publication/8d5cc1b9?page=63"> A Gl bal Technology: Insurtech Shift Investmen</a> <a title="Best's Review - May 2018 Edition page 64" href="http://viewer.zmags.com/publication/8d5cc1b9?page=64"> Technology: Insurtech While insurers will contin</a> <a title="Best's Review - May 2018 Edition page 65" href="http://viewer.zmags.com/publication/8d5cc1b9?page=65"> That's changing the way insurers across the </a> <a title="Best's Review - May 2018 Edition page 66" href="http://viewer.zmags.com/publication/8d5cc1b9?page=66"> Technology: Insurtech The number of insurtech in</a> <a title="Best's Review - May 2018 Edition page 67" href="http://viewer.zmags.com/publication/8d5cc1b9?page=67"> If you have time for only one magazine, Best's Re</a> <a title="Best's Review - May 2018 Edition page 68" href="http://viewer.zmags.com/publication/8d5cc1b9?page=68"> Technology: Blockchain </a> <a title="Best's Review - May 2018 Edition page 69" href="http://viewer.zmags.com/publication/8d5cc1b9?page=69"> BLOCKCHAIN REVOLUTION Use of blockchain technolog</a> <a title="Best's Review - May 2018 Edition page 70" href="http://viewer.zmags.com/publication/8d5cc1b9?page=70"> Technology: Blockchain Blockchain also </a> <a title="Best's Review - May 2018 Edition page 71" href="http://viewer.zmags.com/publication/8d5cc1b9?page=71"> transmission chain, obviating the need for a thir</a> <a title="Best's Review - May 2018 Edition page 72" href="http://viewer.zmags.com/publication/8d5cc1b9?page=72"> Technology: AI, Blockchain, Cloud Mind Your ABCs</a> <a title="Best's Review - May 2018 Edition page 73" href="http://viewer.zmags.com/publication/8d5cc1b9?page=73"> Using chatbots and voice technology,AI </a> <a title="Best's Review - May 2018 Edition page 74" href="http://viewer.zmags.com/publication/8d5cc1b9?page=74"> second. When high transactional throughput is req</a> <a title="Best's Review - May 2018 Edition page 75" href="http://viewer.zmags.com/publication/8d5cc1b9?page=75"> What A.M. Best Says Best's Special Reports and </a> <a title="Best's Review - May 2018 Edition page 76" href="http://viewer.zmags.com/publication/8d5cc1b9?page=76"> Department Industry Initiative (B3i)—started by </a> <a title="Best's Review - May 2018 Edition page 77" href="http://viewer.zmags.com/publication/8d5cc1b9?page=77"> disrupters from outside the industry.The primary </a> <a title="Best's Review - May 2018 Edition page 78" href="http://viewer.zmags.com/publication/8d5cc1b9?page=78"> Best's Rankings A.M. Best Data U.S. Property/Ca</a> <a title="Best's Review - May 2018 Edition page 79" href="http://viewer.zmags.com/publication/8d5cc1b9?page=79"> Best's Credit Rating Actions T his</a> <a title="Best's Review - May 2018 Edition page 80" href="http://viewer.zmags.com/publication/8d5cc1b9?page=80"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 81" href="http://viewer.zmags.com/publication/8d5cc1b9?page=81"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 82" href="http://viewer.zmags.com/publication/8d5cc1b9?page=82"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 83" href="http://viewer.zmags.com/publication/8d5cc1b9?page=83"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 84" href="http://viewer.zmags.com/publication/8d5cc1b9?page=84"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 85" href="http://viewer.zmags.com/publication/8d5cc1b9?page=85"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - May 2018 Edition page 86" href="http://viewer.zmags.com/publication/8d5cc1b9?page=86"> BEST'S FINANCIAL STRENGTH RATING GUIDE – (FSR) A </a> <a title="Best's Review - May 2018 Edition page 87" href="http://viewer.zmags.com/publication/8d5cc1b9?page=87"> BEST'S ISSUER CREDIT RATING GUIDE – (ICR) A Best'</a> <a title="Best's Review - May 2018 Edition page 88" href="http://viewer.zmags.com/publication/8d5cc1b9?page=88"> Industry Updates Best's Insurance Professionals </a> <a title="Best's Review - May 2018 Edition page 89" href="http://viewer.zmags.com/publication/8d5cc1b9?page=89"> Coming in July 2018 Carriers, wholesalers, reins</a> <a title="Best's Review - May 2018 Edition page 90" href="http://viewer.zmags.com/publication/8d5cc1b9?page=90"> Department The Last Word Something to Wine About</a> <a title="Best's Review - May 2018 Edition page 91" href="http://viewer.zmags.com/publication/8d5cc1b9?page=91"> </a> <a title="Best's Review - May 2018 Edition page 92" href="http://viewer.zmags.com/publication/8d5cc1b9?page=92"> Expect big things in workers' compensation. Most </a>