Although access to markets is more readily available, consumers still seek advice and guidance from agents before making policy decisions.
There has been a great deal of press and research released in the last several months that have begun to question the how and the when of the advanced safety systems that have begun to make strides within the market. Specifically, what percent of the overall vehicle fleet/auto claim count now has these systems; how well do these systems work in reducing both loss frequency and costs; and when can the industry expect to see measurable impact in both frequency and costs?
Blockchain is likely to play a major role in the reshaping of insurance, but many carriers are still in learning mode.
Several large insurers have been asked to rationalize their use of occupation in setting auto insurance rates, reports The Wall Street Journal.
Within companies transitioning to analytics-driven organizations, there are significant opportunities for frontline insurance professionals who can develop their data analytics knowledge and bring data-driven decision-making to their work and effectively collaborate with data scientists.