Many auto insurance underwriters aim to separate good, bad, and ugly insurance risks. Theoretically, good risks are safe drivers, bad risks are dangerous drivers, and ugly risks are fraudulent applicants.
An insurer decides to adopt a new underwriting solution that harnesses the power of machine learning. The executive team is super excited about the potential for greater profitability. They are
For every risk, there are countless variables to weigh against the price of insurance to determine if the rate will be adequate. Unfortunately, human underwriters can’t identify all factors and
The property and casualty insurance sector doesn’t have a claims problem. It has an underwriting problem. Although high losses from severe crashes, inflated repair costs and natural disasters have put
Insurers are embracing the technological transformation, ramping up investments as new tools become available. There’s just one issue: with so many new AI and machine learning options, which investments should
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