Insights
Auto Insurance Growth Opportunity #5: Accept Business from All Distribution Channels
Insurance carriers depend on agencies and distribution partners for new business, but if an agency is associated with a high loss ratio, the relationship may
Auto Insurance Growth Opportunity #4: Turn On All Driver Classifications
Many insurers turn off certain driver class segments. While this practice was effective in the past, it may limit future growth. With machine learning, the
Auto Insurance Growth Opportunity #3: Write All Makes and Models
Some insurers think of red sports cars as claims waiting to happen. In some cases they turn off red sports car segments, as well as
Auto Insurance Growth Opportunity #2: Write All Locations
Many insurers turn off certain ZIP codes or geographical territories. While this practice was effective in the past, it may limit future growth. With machine
Are Auto Insurance Rate Adjustments Driving Away Your Best Customers?
Policyholders are being squeezed from all sides by personal insurance price increases. According to S&P Global, average U.S. private auto insurance rates increased by 20.6% between
Reduce Policy Acquisition Costs While Improving Customer Experience
Does your auto insurance underwriting process include the use of credit scores? If so, you know that the costs can really add up. You pay
Auto Insurance Risk Selection FOMO
Have you ever suffered from the Fear of Missing Out (FOMO)? You’ve probably heard of this common condition, often experienced by social media scrollers who
The Hyper-Personalization Trend: Does it Work in Auto Insurance?
Hyper-personalization has taken off. Here are a few modern examples … What’s the Difference Between Hyper-Personalization and Segmentation? Hyper-personalization is one-to-one, while segmentation is one-to-many.
Personalized Auto Insurance Risk Selection: An Essential Strategy for the New Claims Normal
The property and casualty insurance market is finally seeing some relief. As inflation has eased, underwriting performance has started improving. However, challenges remain for the
