Alan Gray, Inc. | Industry Insights

Industry Insights

Michael F. Ceppi

President

Additional Insights

Q) Alan Gray, Inc. (AGI) has been in business for over 20 years. How has the firm managed to grow and prosper over that period?

A) Our focus has always been on adding value to each client's bottom line. We achieve this with our superior technical staff and the fact that we make customer service a priority.

Over the years, as our firm has grown, we've identified new areas in which we could assist our clients. Our firm has evolved from strictly an audit and adjusting firm to a fully diversified insurance services organization that now provides accounting, actuarial, TPA and strategic consulting services, as well.

Q) What has been the biggest change in the business over the years?

A) Definitely, technology. Paper files are disappearing, databases are growing, and analysis is becoming more complicated. Meanwhile, the power of PC computing allows us to take on much larger projects than we could have twenty years ago.

Q) What trends are you seeing in the Property & Casualty industry and how do you see them affecting AGI?

A) The relationships between carriers and reinsurers have evolved from somewhat cordial to more adversarial due to the amount of money being expended on major losses, such as asbestos. All involved parties are performing more due diligence to make sure only valid, covered losses are being paid.

I've been in the insurance industry for over two decades and realize that firms, like AGI, need to be proactive when dealing with a changing industry. Our ability to scale to meet the demands of the industry and the needs of our clients has created business opportunities for AGI.

Q) AGI is a major force in Mass Tort litigation, particularly asbestos. What changes have you seen in this area?

A) Mass Tort has become a fixture in the American economy. Asbestos really created the phenomenon, and the litigation continues. It is vastly different today than it was 15 years ago. Settlements 10-15 years ago were dominated by global agreements in which several strong cases were used to leverage the decisions of hundreds or thousands of weaker cases. Today, there is a greater focus by plaintiff firms on settling or trying mesothelioma cases. This interest has caused defense costs to skyrocket, with no real reduction in overall indemnity levels. We have responded to this trend by increasing our Legal Bill Audit offerings to help our clients manage their costs.

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