Predictive analytics

Tom Bolt is charged with helping the company improve pricing decisions using data and analytics.

The insurer partners with California-based insurtech Carpe Data to further investigate incoming claims.

Both parties have good intentions, wanting to do what’s best for the organization, yet conflicting priorities and viewpoints make them frequently go head to head.

Many of these dangers stem from the increasing reliance of financial services companies on outside technology firms.

With today’s digital tools and platforms, the technology can be applied to various aspects of the insurance value chain.

Jon Colello, president and head of underwriting, advises carriers to focus on technologies and partnerships reducing data sharing costs.

The move follows new CEO Brian Duperreault’s earlier assertions the insurer would develop data science and analytics capabilities for underwriting.

Organizations that have been successful with business intelligence are more likely to adopt the tech than their less successful counterparts, says study.

Carriers are working to change the culture around underwriting to be more data-driven, says EY study.

The company is developing an instant-issue platform that delivers life policies to customers without fluid testing.