Hartford, Conn. — The influence of technology and other external forces is redefining the nonstandard auto insurance market, according to a study by Conning Research & Consulting Inc.
"As predictive modeling has become more prevalent in auto insurance underwriting, the standard auto market has expanded to include and price risks that would once have been thought of as nonstandard," says Alan Dobbins, analyst at Hartford, Conn.-based Conning Research & Consulting. "As a result, the new nonstandard market is undergoing a dramatic shift in risk profile."
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