P&C insurers are doing a good job understanding the value of and building capabilities for predictive modeling. That's according to the 2016 Predictive Modeling Benchmark Survey (U.S.) from Willis Towers Watson, released this week.
The company says that two-thirds of P&C insurers surveyed currently use predictive models for underwriting and risk selection, a 10% increase year-over year. While companies across business lines tend to agree "about the fundamental importance of using more sophisticated predictive techniques to drive success in today’s market," commercial lines insurers tend to indicate greater interest on expanding their capabilities.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access