Issues & Answers: Program for Success

The episode opens with a clear definition of a program in the property and casualty (P&C) insurance space. A program is a specialized insurance product designed for a niche segment that demands deep industry knowledge and tailored underwriting. Brooke cites the Target Markets 2025 study, which places the U.S. programs market just above $1 billion in direct written premium—a figure that has risen roughly 40 percent since 2022. This rapid growth underscores how insurers are turning to focused solutions to capture underserved risks.

Brooke explains how the program model diverges from traditional insurance offerings. Program administrators bring deep sector expertise, enabling precise risk assessment, product development, and proactive risk‑management services that are rarely available in the broader market. She highlights emerging innovations such as embedding insurance at the point of sale of complementary products, leveraging data analytics, and offering prevention technology that can mitigate losses before they occur. These capabilities not only enhance coverage relevance but also create new revenue streams for carriers willing to partner with knowledgeable administrators.

Choosing the right program hinges on two core criteria for Nationwide: a trusted, long‑term partnership and demonstrable expertise in the target segment. Brooke notes that these relationships allow carriers to enter markets such as small airports or family‑run restaurants with confidence. For policyholders, the payoff is clearer coverage, faster service, and access to preventive tools that reduce claim frequency. As more insurers adopt this collaborative approach, the P&C landscape is poised for faster innovation, greater specialization, and stronger risk mitigation across the industry.