Underwriting

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.

Regional P&C insurer deploys PolicyCenter and BillingCenter with self-service tools.

Workers' comp insurer selects Valen Analytics' InsureRIght platform, gaining access to vendor's data consortium.

Modus, founded in 2002, tracks driver performance for carriers and fleet managers to conjure up better risk profiles.

Carrier will establish its recently purchased Hamilton USA business as an analytics unit aimed at leveraging data science for commercial underwriting and claims.

Eligible customers can use the ExpressTrack platform to get life insurance without requiring a doctor visit, company says.

Rules-based automation will eventually give way to machine learning and AI, says KPMG.

Use cases range from risk modeling to fraud detection, says study.

David Firstenberg assumes the role after five years as CEO of Canal Insurance Company.

New tech companies are shaking up the insurance market with Internet of Things, drone and machine learning products.

SVP of digital Andy Breen says that insurers should focus on the data that teaches the machine and let others handle the inner workings.