3 Data Techniques to Push Competitive Boundaries

Data derived from devices, new external data sources and new techniques for interpreting data are pushing the competitive boundaries for insurers at an accelerated rate. Click through to see the three finalists in the Data Mastery and Analytics category of Celent's Model Insurer awards program, as well as the hottest trends identified throughout the judging process.

1. Underwriting and exposure modeling are hot topics for risk prediction and control

According to Celent, analytics and dashboards in support of underwriting accounted for 29 percent of all submissions for this year’s awards. The submissions were split into two main types:

1. Those that used data to inform and then help automate underwriting rules “targeted more at high volume product lines”

2. Those that used non-standard or external sources of data to inform underwriters at the point of decision “targeted more at non-standard and specialist risk”

Additionally, exposure-modeling solutions featured more-sophisticated visualization tools.



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