Data architecture

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.