Geico falls behind Allstate in Personal Lines revenue although it remains a dominating third in Auto. Has Geico’s low-cost direct auto business strategy has reached its natural limit? We believe that in the future successful carriers will be able to profitably sell through all channels. To do so carriers need to get much better at automated risk selection at POS.
You may also like
Aerial Imagery Sparks Debate – Is There a Better Way to Assess Risk?
The growing use of aerial photography by insurance carriers has sparked controversy, pitting insurers eager to streamline risk assessment against homeowners troubled by a process they feel is opaque and potentially unfair. As insurers explore technological solutions to improve efficiency, could alternatives like VeracityID's idFetchTM provide a middle ground that balances accuracy with privacy and consumer empowerment?
May 2, 2024
When preparing for a busy tropical storm season understanding and documenting risks is key
Understanding a home's vulnerabilities before disaster strikes is vital. The 2024 hurricane season could bring significant financial challenges. By taking proactive steps in risk management and claim handling, homeowners’ insurance carriers can better protect themselves and their customers against potential losses.
April 24, 2024