Underwriting

More publicly available digital information means underwriters have greater access to information on potential risk.

The demand for no-medical exam life insurance has grown in the last year, likely related to the COVID-19 pandemic. From October to December 2021, about 56% of applications submitted through Policygenius were for no-medical exam policies compared to January to March 2021, which was only 26%.

A group of the world's biggest insurers and reinsurers jointly pledging to eliminate greenhouse gas emissions from their underwriting activities have run into an unexpected opponent of their planet-friendly mission: competition law.

In other news: Overhaul and Movingdots collaborate; Zurich Resilience Solutions adds DEI service; Vertafore names chief technology officer.

American International Group Inc. and other insurers avoided steep losses from a spate of extreme weather this year thanks in part to the reinsurance industry. But increased reliance on those policies probably means price hikes are coming.

Success demands an innovation-driven formula with four main components: speed, accuracy, scale and customer experience. To do this and change the economic equation, here are five efficiency strategies recommended by Verisk.

Digital Insurance spoke with Angela Orbann, vice president of property, PI product management at Travelers about how technology can optimize a home insurance policy and how artificial intelligence and satellite imagery is helping insurers.

SynchronoSure has three insurance products available in 48 states, and will be adding new products over the next 60 days. GigBOP, a low-end property/casualty product for the gig economy and small business accounts; a trucking general liability product designed to protect the office and garage operations for small trucking companies; and a recently announced excess liability product.

Half of insurers that have already adopted accelerated underwriting report payback periods of less than a year.

The auto-insurance industry has traditionally relied on many factors, but the use of education and job status has come under scrutiny in recent years.

Has insurance's 'noble purpose' ever been more relevant to society than now?

AAU enables underwriters to spot patterns and connections that are either invisible to the human eye or which take normal, human-assisted processes large amounts of time and resources to identify.

New Chief Underwriter and Underwriting Transformation Officer Dawn Boitnott will focus on automation, she says.

Now that accelerated underwriting has emerged from its infancy, there is an opportunity to move the conversation to best practices and competitive advantages

Tech from Human API was rolled it out faster and more broadly because of the virus following a pilot project last year.

More than 1,000 customers in the line of business have taken advantage of the new program.

Working with the insurtech Flyreel, new policyholders will be able to provide crucial data to the insurer.

The global value of insurance premiums underwritten by AI have reached an estimated $1.3 billion this year.