In a recently published article published in Insurance Journal, Archipelago draws parallels between the history of firefighting in Ancient Rome and the current state of the commercial insurance industry today. The piece references Marcus Licinius Crassus, a roman general who created the first Roman fire brigade to draw parallels to the needs of commercial property insurees.
The article argues that insurers must work to offer more than just a price to recover losses – they must also provide supplementary services to justify the cost of insurance while proactively working to mitigate losses in the first place.
The article goes on to outline a few ways this can be played out, including:
- Prevention mindset
- Risk detection
- Risk mitigation
- Risk mitigation credits
For a more detailed look at these parallels, you can read the full article here.
