Ever since personal data was first discussed as having the potential for emerging as a new asset class at the World Economic Forum in 2011, capturing and incorporating personal data into the proposition design has been seen as a potential gold mine.
Beyond encouraging a strong personal relationship with an underwriter, what can carriers do to build stronger connections with agents and grow their book? Celent surveyed a group of agents to understand those areas most likely to make a carrier the agentsí top choice.
Most of these advanced capabilities are being driven by a combination of five elements: analytics, data, digital channels, modern applications and innovative business practices.
The NAIC Executive (EX) Committee recently established the Cybersecurity (EX) Task Force to act as a focus point for cybersecurity insurance regulatory activities. The message is clear: there will be regulatory pressure to do something around cybersecurity.