Loss mitigation

The technology can mitigate project risk at job sites.

Current actuarial techniques are good at quantifying in the aggregate – but less so in the detail.

In 2020, natural disasters, excluding COVID-19, caused a total of $76 billion in insured losses, as opposed to the $7 billion in man-made insured losses. Companies must prepare to meet the demands of an increased customer base, including facilitating an easy claims process and expanding digital access.

Commercial insurer will make technology available to clients that reinforces proper lifting form, with the goal of reducing workers' comp claims.

With underwriting results deteriorating in personal auto, carriers hope to reduce risky habits among their policyholders.

The Dwellbeing tool gives insureds a place to record usage data, giving customers a better sense of personal risk.

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

Less than one-fifth of top life insurance carriers have a policyholder smartphone app, according to Aite Group research, leaving lots of room for improvement in leveraging the channel.

Insuring against natural disasters could reach unaffordable levels for households and companies, while the potential damage is so unpredictable it may be impossible to model.

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

Reinsurer partners with Mobileye to install vision-based sensors on vehicles.

Insurer plans to leverage large swath of data to re-evaluate risk as autos modernize.

Study suggests predictive analytics to combat the problem, helping carriers shed unwanted policies and validate client information.