Insights
What Is Deep Learning and What Does It Mean For Insurance?
As the insurance industry delves deeper into AI, insurance professionals are encountering many new terms. However, many of these terms are not actually new. “Deep
The Great Policyholder Migration: How Auto Insurers Can Capitalize
Auto insurance policyholders are fleeing their insurers. Recent figures are both alarming and intriguing. It’s true that some auto insurers will lose customers, but most
Overcoming Bias in Auto Insurance Underwriting
Bias in auto insurance underwriting is a serious risk. Biased practices can lead to lawsuits and regulatory action. They can also cause some drivers to
Overcoming Adverse Selection in Auto Insurance
When insurance underwriters don’t have the full picture regarding an applicant’s risk, they are at a disadvantage. This imbalance – in which the insurance applicant
Proactively Overcoming Auto Insurance Fraud
Insurance fraud is a problem that just won’t go away – but could that change? Although bad actors will always try to find ways to
How Tech Adoption Shifts Market Share
There are two basic ways to gain market share: through slow but steady growth and through bold moves that take advantage of major shifts in
Auto Insurance Risk Selection – The Good, the Bad, and the Ugly
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
7 Ways Insurers Can Overcome Innovation Resistance
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
Risk Selection Gone Wrong: The Case of the Red Corvette
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
