What Insurer Data Practices Mean for Risk Professionals (Risk Management )

What Insurer Data Practices Mean for Risk Professionals

  Thursday, November 19th, 2020 Source: Risk Management

The way insurers collect, analyze and use data is impacting every part of the commercial insurance value chain, from businesses to brokers to insurers.

Insurance professionals are harnessing this exponential growth of data, using it to provide meaningful insights to brokers and insured businesses. Most importantly, this means insurers can provide the capabilities that are in-demand in the modern business and risk management environment.

This new data drives improved predictive modeling straight through underwriting, claims payments, and forecasting when accidents may occur.

They can provide a more accurate profile of an organization’s risk—leading to premiums that reflect a company’s actual cost of risk and, in the event of a claim, helping companies better recover from a loss.

Risk professionals can leverage and inform these new practices as data continues to influence how their businesses are insured.

  Read Full Article
SOS Ladder AssistMid-America Catastrophe ServicesBullseye Adjusting & Associates LLCU.S. Forensic

  Recent Provider Listings

Serving California & Nevada Statewide
California Adjusters
Serving Florida Statewide
Florida Engineers Forensic Consultants
Serving California & Hawaii Statewide
California Hawaii Cause & Origin Fire Investigations