Underwriting

Home insurers have an opportunity to revolutionize their business like health and auto companies have with the Internet of Things.

The move has enabled the reinsurer to develop a new underwriting system, leading to faster product launches and enhanced data analytics.

The emerging technologies are equally dependent on each other for best results, Novarica says

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

The business unit, created last year, leverages data science and extensive third-party data to price small business risk.

Australian insurer will leverage startup's machine learning platform to automate commercial underwriting.

The usage-based insurance startup believes that driving frequency is a crucial data point for carriers.

Data and analytics company is partnering with life insurers to develop products to automate the application and underwriting process.

New products announced by startups this week show companies expanding their portfolios to manage more kinds of risk.

Emerging AI technologies will allow insurers to make more nuanced, on-demand decisions and expand their product portfolio.

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

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.

Brokers warn low portions of Harvey’s costs will be covered by insurers because regular homeowners’ policies don’t include flood damage.

Harvey’s cost by one estimate could mount to $30 billion when including the impact of flooding on the labor force, power grid, transportation and other elements.

Most innovation plans do not account for emerging industry trends like insurtech disruption and IoT adoption, study finds.

Ariel Gorelik assumes control of the insurer's global IT operations.

Top P&C insurers are keen on helping agents acquire new business using mobile channels, as well as e-signature and predictive fraud scoring initiatives, Novarica finds.

The sector is complex, and it is important for carriers to have the appropriate systems and functionalities to support these complexities and enable future growth.

UK-based Visicover allows customers to buy and self-administer insurance policies online for planes and helicopters.