Analytics

Sears Merritt will lead technology-focused strategies to accelerate digital transformation at the company.

We want insurers to transform from premium collectors to lifelong protectors. And technology is at the core of helping them achieve this.

Nearly three-fourths, 72%, of companies are planning to increase staff in the next 12 months, according to the Q1, 2022 U.S. Insurance Labor Market Study results from The Jacobson Group and Ward Benchmarking at Aon.

Insurers that are able to make the best use of data are already winning market share, improving key ratios and generating superior risk intelligence, according to a report from the Capgemini Research Institute.

Some consumers don’t seem to be crying out for usage-based insurance and evidence shows some of the models in use are only mildly predictive at best. Why is that? Why is it that auto insurance companies have not found a way to significantly improve on the traditional metrics of age, zip code and the like despite all the technological advances of the last few decades?

As we look ahead, evolving technologies are presenting home and auto owners with new potential risks. Hacking and ransomware, once confined to computer networks, may become an endemic cyber vulnerability for our increasingly connected vehicles and “smart home” devices. Yet many of these same technologies could create new data sources and risk mitigation options for personal lines insurers.

The unique partnership comes amid an increase in vehicle crash-related deaths and a desire to help customers understand how their choices could potentially support their overall health.

As we emerge from the pandemic and look to the future, the case for cloud must be elevated beyond the limitations of IT savings, to how insurers can use it to address their biggest business challenges.

New methods, using artificial intelligence, ease the fraud detection burden and help insurance companies stay one step ahead.

Auto insurers can leverage critical mobility risk insights like distracted driving, hard turns, and more, turning them into effective personalized marketing campaigns.