Data architecture

In May, the California Department of Insurance sent surveys to property & casualty insurers, to get information about how insurers are using tools like big data, artificial intelligence and machine learning in their decision making processes.

Predictive models are a tool to address a business problem, not a solution.

The shortcomings of emerging "climate services" are concerning to some observers.

Consider introducing specific touch points and service level expectations.

The idea is to use advanced analytics to drive innovation and create actionable insights throughout the insurance lifecycle.

Insurers can gain deeper insight into risks.

Alongside extreme weather events, issues like affordability and risk perception contribute to the lack of insurance protection.

Applying AI technology moves slowly, but has potential to produce more sophisticated insights

The conversion process can be fraught with integration complexities.

Data issues hinder the member experience and cause premium loss for carriers.

The predictive model is powered by AI analysis based on data from over 1,500 wildfire losses.

There's a growing collective effort by national regulators, state governments, insurers and banks to address impacts of a warming planet.

Transformational technologies will also be critical in advancing personal lines underwriting, with 81% of insurers saying they are pushing transformation forward.

Digital Insurance spoke with Eric Sellenberg, technical director, Zurich North America.

Underwriting technology company shifts focus to workbench product

AI and ML can find patterns in data, but when they're trained on biased data, they can compound the issues and perpetuate a self-confirming data bias cycle.

Insurance data provider promises steady, time-saving operations.

Cybersecurity risk start-up sees biggest risks inside firewalls

High-resolution, high-frequency imagery assists insurers with claims processing, underwriting and post-disaster property inspections.

How do you maximize efficiency in the application, quoting, and claims process and not invite new or additional fraudulent activity?