Today property and casualty (P&C) insurers are focused on growth and market share initiatives as they look to develop new revenue streams. Growing the business, reducing operational costs, and improving speed-to-market are top priorities for insurers who want to gain market share. However, the process of analyzing, developing, filing, and implementing insurance products has traditionally been manual, slow, and expensive.
To capitalize on today’s market opportunities, insurers need to find new ways to streamline, automate, and accelerate product development. They need to think differently about how they can leverage bureau content such as ISO loss costs, rules, and forms to minimize risk, avoid premium inaccuracies, and get products to market faster than their competition.
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