Senior Engineer

ISG welcomes former GEICO executive Seth Ingall to Board of Directors. Danvers, MA - Insight Service Group (ISG) recently announced the appointment of Seth Ingall to its Board of Directors. Ingall, a respected insurance executive with nearly four decades of experience, including 38 years at GEICO, joins ISG at a time of growth and innovation across its integrated service lines. Ingall's appointment reinforces ISG's commitment to delivering bundled, technology-enabled solutions that drive better claim outcomes, while still giving clients the flexibility to engage services on a bundled or unbundled basis. This adaptability has been a key differentiator for ISG, allowing carriers to tailor programs to their operational needs while benefiting from the strength of ISG's integrated model "Seth's leadership and legacy in the insurance industry are unmatched," said Bob Reardon, CEO of ISG. "He understands the operational complexities and strategic imperatives that carriers face today. His insight will be instrumental as we continue to scale our integrated model, bringing together IMEs, record retrieval, clinical services and investigations under one roof, to help our clients reduce costs, improve outcomes, and simplify the claims process." During his tenure at GEICO, Ingall served as Senior Vice President and Chief Claims/Legal Officer, overseeing, claims, staff counsel, legislative counsel, general counsel, financial areas including controllers, human resources, philanthropy, reserving, corporate communications, real estate and facilities management, and centralized services. He also served on GEICO's Board of Directors for 20 years. Across the insurance and collision ecosystem, Ingall also held board and executive committee positions with the American Property Casualty Insurance Association, Arbitration Forums (Chairman), the Certified Automobile Parts Association, the National Insurance Crime Bureau (NICB), and the Insurance Services Organization (ISO) Claims Council. Currently, he remains active as part of the executive team at Crash Champions. "I'm honored to join ISG's Board and contribute to a company that's redefining what it means to be a true partner in claims resolution," said Ingall. "ISG's integrated approach of combining best-in-class services with proprietary technology and a national footprint is exactly what the industry needs. I look forward to helping ISG expand its impact and continue delivering exceptional value to clients." ISG's bundled service model has proven especially effective in the auto insurance sector, where speed, accuracy, and defensibility are paramount. By integrating investigative services, medical evaluations, record management, and compliance solutions, ISG offers carriers a single-source partner capable of streamlining workflows, reducing administrative burden, and improving claim cycle times, often delivering double-digit efficiency gains across major auto programs. "Seth's appointment is more than a milestone, it's a signal to the market," added Rachel Wey, Chief Client Officer at ISG. "We're investing in leadership that understands our clients' challenges and shares our vision for smarter, more connected claims solutions."

Shared-risk models, tech reshaping equipment finance insurance. Heavy-equipment insurance market could exceed $34B by 2033. Shared-risk models and advanced data sharing are changing the insurance landscape in equipment finance as lessors seek a competitive edge. The global heavy-equipment insurance market is projected to nearly double to $34.7 billion by 2033 from $18.7 billion in 2024, according to consulting and research firm DataIntelo. Meanwhile, the global machinery leasing market is expected to grow nearly 50% to $733.6 billion by 2029 from 2024, according to the Business Research Co. More lessors and insurance providers are shifting to shared-risk models to seize opportunities in the wake of higher premiums, rising replacement costs and other factors that are "squeezing margins," Brendan Curran, business development manager for North America at Acquis, told Equipment Finance News. Acquis provides specialized insurance solutions for equipment lessors. "We see companies moving to a shared-risk model with the carriers so that they can potentially increase their income because, historically, there's very low claims that come from this business," he said. Essentially, low claims make shared-risk models work because the insurers are better positioned to collaborate with lessors rather than shift costs to lessors, enabling greater flexibility in pricing, coverage terms and underwriting capacity. The captive effect. Creating a captive insurance arm is one way lessors are increasing income potential while sharing risk, Curran said. "What they do is set up a separate company, which basically becomes the insurer," he said. "Premiums come in, and then the risk is shared by some predetermined percentage. Let's just say, for example, if a claim comes in, they split the claim 50/50, but any remaining income with them gets split as well." Even though the lessor is not technically the insurance carrier under this arrangement, the captive is viewed as a value-add service that attracts customers by extending coverage tied to the leased equipment, he said. "A lessor might be able to provide coverage to a lessee that's potentially lower [cost] than what they might get from their own broker, depending on the size of the company, their own risk history and things like that," he said. "Oftentimes, these programs provide a service to the customer that - No. 1, it's easy - and they can be competitive with what they can source on their own." Advanced data sharing and other tech solutions are also reshaping insurance in equipment finance. For example, Daimler truck financial services recently partnered with Geico so customers could share data in real time through Daimler's telematics platform. The data allows Geico to "better assess risk, reward safe driving and deliver meaningful savings to our customers," Chris Sions, head of partnerships at Geico, stated in an Oct. 27 Daimler release. With lessors, lessees and insurers able to immediately share information, "there's a lot of efficiencies that can be gained," Curran said. Customer portals, APIs and agentic AI are among effective tools for processing and sharing data, he added. "You can have AI agents scan documentation to make sure it has all the necessary information and potentially immediately respond back to the customer," he said.