Machine learning

Current actuarial techniques are good at quantifying in the aggregate – but less so in the detail.

More publicly available digital information means underwriters have greater access to information on potential risk.

Enabled by advanced technology, automation and digitization, insurers will discover and leverage new opportunities.

ProNavigator, a purpose-built SaaS knowledge management platform, has a goal to provide accurate information in seconds.

In other news: Overhaul and Movingdots collaborate; Zurich Resilience Solutions adds DEI service; Vertafore names chief technology officer.

Using the right advanced technologies, litigation analytics can give you insights into legal cases and trends that were previously unknowable to provide better legal advice, develop better litigation strategies and win more cases.

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

In case you missed it, insurtech -- technology developed to improve and transform the insurance industry -- is having a bit of a moment. Forrester recently reported record-breaking funding for insurtechs, closing Q3 at $15 billion - more funding than in 2019 and 2020 combined - with more deals anticipated by the end-of-year.

By facilitating access to rich, unstructured data in real-time, technology is paving the way for insurers to employ greater personalization and become customer-centric. It can drive tremendous growth opportunities as well as cost and operational efficiencies by promoting wellbeing and prevention services.

As the effects of the pandemic continue to play out, market activity indicates commercial lines insurers are reprioritizing their tech-oriented projects, with some plans continuing to move forward while others have slowed down.