1. Underwriting and exposure modeling are hot topics for risk prediction and control
According to Celent, analytics and dashboards in support of underwriting accounted for 29 percent of all submissions for this years awards. The submissions were split into two main types: 1. Those that used data to inform and then help automate underwriting rules targeted more at high volume product lines 2. Those that used non-standard or external sources of data to inform underwriters at the point of decision targeted more at non-standard and specialist risk Additionally, exposure-modeling solutions featured more-sophisticated visualization tools.
Finalist: Bankers Insurance Group
Bankers Insurance simplified their home insurance shopping experience by requiring prospective customers to only input an address to deliver one-click, pre-underwritten quotes.