Commercial Lines

Parametric insurance currently benefits from its radically simpler user experience, but the opportunities are far broader.

The traditional "repair and replace" model is being challenged by one that uses sensors to "predict and prevent" losses from ever happening in the first place.

The concept is widely adopted in manufacturing and supply chain. Insurers that integrate digital twins will significantly out-compete rivals.

6.2 million properties in the U.S. experienced one or more damaging hail events in 2020, making these warm months a very busy time. 

For workers’ comp claims with attorney involvement, average indemnity costs are $77,807, 390% higher than for unrepresented claims.

Social inflation, fueled by third -party litigation funding, added more than $20 billion to commercial auto claims in the 2010s.

With flood threats increasing, insurers are shifting away from simply restoration and recovery to prevention and mitigation pre-event.

With scrupulous implementation and judicious oversight, AI can supercharge the industry and provide better services to customers.