Underwriting

By combining historical aerial imagery, property condition data, and AI, insurers can optimize underwriting, inspections, and fraud reduction.

As carriers and agencies adapt to hybrid work models, AI-powered tools are becoming increasingly crucial for maintaining efficiency and quality of service.

Life insurers are expanding their approach by incorporating non-medical data sources, such as driving reports, credit histories, and public records. 

AI in pricing represents a breakthrough, with some insurers already shifting to automated solutions that promise more accurate risk assessment and increased profitability.

Automating repetitive tasks can streamline workflows and allow for data-driven decisions with greater accuracy and speed.--but getting to scale can be tricky.  

Historical data offers outdated information. Real-time data keeps you informed of changes to a policyholder’s risk profile, letting you adjust premiums. 

Here are five ways to use insurance data to gain insights on claims, underwriting, marketing, and operations and gain a competitive advantage.

New product technology are addressing the traditional pain points of data analysis, model development, and risk assessment for life insurance actuaries.