Good afternoon my dear friend and colleague. It means the world to me that you want to receive our Newsletter. I appreciate you more than you know, so THANK YOU!

At Fun Insurance Solutions, our goal is simple: we want to help YOU grow.

Now, let’s enjoy another day in the best industry in the world.

👀Remember to keep an eye on my ”Fun” Facts included in the Newsletter. We'll be playing a game with them in the future. And, of course, you’ll get the chance to win some money 🤑.

Let’s GOOO!

😱This week’s OMG moment

The upcoming Atlantic hurricane season is predicted to be unusually severe, with early forecasts suggesting it could be one of the most intense on record. Colorado State University anticipates 23 named storms, 11 of which could become hurricanes, including five that may reach major hurricane status (Category 3 or higher). This season, which spans from June 1 to November 30, is expected to be significantly more active than the average due to exceptionally high Atlantic Ocean temperatures and the onset of La Niña. These conditions contribute to more powerful and rapidly intensifying storms. The forecast also indicates a 62% chance of a major hurricane hitting the U.S. coastline, a 19% increase over the average likelihood. While the National Oceanic and Atmospheric Administration has yet to release its predictions, the gravity of the situation is echoed by other hurricane experts who are particularly concerned about the potential for catastrophic hurricanes this year.

😕A California federal court has preliminarily approved a $24 million settlement in a class action lawsuit against certain American International Group (AIG) firms, as reported by Law360. The lawsuit alleged that the companies involved had concealed fees in their travel insurance policies sold under the Travel Guard Group brand, which is marketed by AIG Travel and National Union Fire Insurance Company of Pittsburgh, Pa. The settlement, reached after extensive negotiations mediated last December, proposes $23,997,500 be paid into a common fund to compensate affected class members, including those in California and those who purchased policies through third-party online travel sites. Additionally, the settlement covers damages and attorneys' fees, and mandates that all future Travel Guard Plans policyholders be informed about an additional fee for non-insurance travel assistance services included in the plan price. The allegations involved claims of fraud and violations of California's unfair competition and false advertising laws.

🌎Around the World

😢Iran attacks Israel and experts are saying airlines in the middle east will be heavily impacted. Meanwhile, in the USA, Moody’s economist said that oil prices will be the biggest threat. We can all agree that wars are devastating to everyone. We’ll keep an eye on any developments that could potentially impact the insurance industry.

😮The owner of the ship responsible for destroying Baltimore’s Francis Scott Key Bridge has initiated a "general average" process, necessitating that companies owning cargo on the ship share in the financial burdens of salvage operations. This decision, relayed by the world’s largest container carriers, MSC and Maersk, comes after the incident which led to significant disruptions at the Port of Baltimore, involving high costs from damage, salvage efforts, and additional expenses like crew and fuel.

⚙️Technology 

⏰Want to quote life insurance with multiple carriers in under 10 seconds? YES, In seconds! Sign up with BackNine Insurance HERE and start selling life insurance in seconds. BackNine is a completely FREE InsureTech platform that gives you direct appointments with carriers and plenty of resources so you can sell life insurance even when you are sleeping.

🤩Meet Gail by Lula. Check out this YouTube video with the new Artificial Intelligence that is revolutionizing the insurance industry.

💻Accelerate Your Content Creation with Koala AI. Create high-quality SEO-optimized articles in minutes. KoalaWriter, powered by GPT-4, combines SERP analysis with real-time data to create content that ranks. You can get Koala AI for free HERE.

🫱🏼‍🫲🏼For Insurance Agents

📝Have you ever heard the phrase “gracious hospitality”? I mean, WOW! When I first heard Richard Weylman talk about elevating our client’s experience by delivering our services with gracious hospitality, it just blew my mind. Think about this, the Merriam-Webster dictionary defines the word gracious as “marked by kindness and courtesy“. It also defines the word hospitality as “hospitable treatment, reception, or disposition“. How powerful are those words! Right? Enjoy our recent blog post about gracious hospitality.

🎙️Are you wondering about your Tech Stack? Well, wonder no more. Listen to this great episode of the Fun Insurance Solutions Podcast where we go down the rabbit hole and discuss the technology infrastructure every insurance agency should have. Want to be on the Podcast? Reply to this email and tell me something FUN about yourself (or something really cool that you have done) and let’s share your story.

🤫Here’s one of my FUN Facts: I completed my first insurance designation in 2007. Reply to this email and try to guess which one it was. Hint: the first letter stands for “Certified”…

🦺Want learn about Inland Marine insurance? Check out this deep dive into Inland Marine Insurance.

In the inaugural EY/Institute of International Finance global insurance risk management survey, cybersecurity emerged as the top concern for chief risk officers (CROs), with 53% highlighting it as a major risk for the coming year, followed by various other risks including insurance risk and business model transformation. The survey, which gathered responses from 68 insurance carriers across 15 countries, also revealed shifting concerns over the next three years, with geopolitical and environmental risks, as well as challenges related to machine learning and AI, becoming prominent, reflecting the evolving risk landscape in the insurance industry.

📰Non-Insurance Stuff

📱Samsung beats Apple - Samsung regained its position as the top global smartphone vendor in early 2024, narrowly outshipping Apple with 19.69 million units versus Apple's 17.41 million, according to Counterpoint Research.

🌟According to The Infinite Dial®, an annual survey from Edison Research supported by Audacy, Cumulus Media, and SiriusXM Media, the number of persons engaging with online audio and podcasts has reached new record highs. The latest data reveals that 47% of the U.S. population aged 12 and over listened to a podcast in the past month—a 12% increase from last year—while 76% engaged with online audio, showing significant growth in digital media consumption across various platforms.

🪸US government scientists have confirmed that global heating has triggered a fourth planet-wide coral bleaching event, set to be the most extensive ever recorded, with 54% of coral reef waters experiencing high enough heat stress to cause bleaching.

🏢For Insurance Companies & MGAs

🤑Did you know that insurance companies and MGAs are making hundreds of thousands of dollars of additional revenues just by using our Cyber and ID Theft programs in their portfolios? Awesome! Right?

Think about this: 1️⃣Policy + 1️⃣Premium + ❌No Underwriting + ❌No Filings = ♾️Infinite Possibilities.

Today is the day for you to shine. We have room to add 9 new carriers and 3 new MGAs to our Cyber and ID Theft programs.

Fill out our quick form below👇🏼and let’s work together to achieve more.

🔒Want to learn more about the Cyber Risk Purchasing Group (cyer policy) that will transform your commercial portfolio?

😂Insurance Meme of the Week

Do you have a funny insurance meme that you would like to share with thousands of colleagues? Send it over to us and we will gladly share it in our next newsletter. You will get the credit, of course 😉.

From the bottom of my heart, THANK YOU for being part of our Fun Family.

Please make sure you sure you forward and share our newsletter with all your insurance friends and colleagues so they can sign up below.

I appreciate you,