“Data is the new oil” is a popular phrase, indicating that data is now the lifeblood of industry in the digital age just as oil was in the mechanized age. What are the implications to the insurance industry? And in particular to underwriting accuracy?
Underwriting can always be more accurate – risk assessment will continue to be refined and improved over time. It is a continuous process. Data is key to this process, and new datasets driven by IOT and other digital trends will fuel these improvements. Join the experts from Pitney Bowes, as they discuss best practices for managing and leveraging data in your underwriting process and examples of new datasets you should consider adding to your risk analytics.
In this session, you will learn about:
· Best practices to applying data to improve pricing accuracy in your underwriting process
· Examples of new datasets such as building footprints that can improve risk assessments
· How to quantify the improvements of underwriting accuracy driven by new data