Homeowners carriers must use technology to personalize consumer experience and manage risk
The homeowners insurance landscape is witnessing a generational divide. While technology-savvy younger buyers demand data-driven, hyper-personalized experiences, a significant portion of the existing clientele holds a preference for traditional methods of coverage. As this transition unfolds, a successful underwriting strategy necessitates adaptability, catering to the needs of both segments while modernizing established practices.
Decoding Allstate CEO Tom Wilson’s Statements on Insurance Challenges
Allstate CEO Tom Wilson was recently quoted in the Wall Street Journal saying, “There will be insurance deserts,” he said. “There are […]
Drive excess disaster claims lower through structured comparison.
For a claims adjuster a disaster’s aftermath is a chaotic blur of crumbling evidence, overwhelming details and exhaustion from twelve-hour days without […]
Branch continues its slide
The article delves into the consequences of overlooking the complex variations in risk, leading to vulnerability and potential setbacks for Insuretechs."
Auto insurance carriers are trapped on a terrible rate cycle roller because of a bad assumption about risk
What auto carriers are doing isn’t working. Except for Progressive. “Rate hikes not bringing profitability to auto insurers” – Fisk analyzed […]
In Homeowners unmeasured risk is coming from inside the house
As we previously highlighted in our article, Hippo Bet on the Wrong Innovation, Hippo’s woes can be traced back to a fundamental […]
At Guidewire Connections the key word is “Profitability”
We are at the 2023 Guidewire Connections conference and surprisingly, the word on everyone’s lips isn’t “Ai”, it’s “Profitability”. The industry is […]
The Devil is in the Details
This article is one of an enormous number of ‘hand-waver’ pieces that use jargon that few understand to predict a magical “AI” […]
Will insurers be left with the bill for EV battery damage?
There was a thought-provoking article in the Financial Times on October 30 about the growing cost of insuring Electric Vehicles (EVs). It […]
To regain its leadership position Geico needs to become an IT innovator, not just an imitator
Geico’s laying off 6% of their employees and saying they are going to invest in ‘IT’. But will it make a difference? […]
Hippo bet on the wrong innovation
P&C Specialist reports that “Hippo announced that about 120 employees, or 20% of its workforce, would be laid off. The move follows the […]
Should Insurers Use ChatGPT v4 to Analyze Images?
During our scrum today, one of our developers mentioned that ChatGPT restored its image recognition toolbox in its v4 release. Such tools have […]
