Predictive analytics is a significant advancement in the ongoing search for better ways to develop equitable rates — rates that accurately reflect the experience of groups of insureds. Some companies are building their own predictive models. That’s a major undertaking, requiring a significant commitment of resources, time, and expertise that few companies have. Others are [...]
Verisk Review
When it comes to competing on data analytics, one might assume that the large carriers would be the likely experts, with smaller carriers trailing behind. However, in a recently released Verisk Review article titled “Analytic Capabilities: Your Customer and You,” Marty Ellingsworth, president of ISO Innovative Analytics, notes that every executive in the market feels [...]
In the past 15 years, more than 100 property/casualty insurance companies have either failed or merged into larger enterprises. The top ten insurance companies continue to grow, and the number of companies overall continues to decline. So how can the small insurer survive and grow? In a recently released Verisk Review article titled “Champions of [...]
