The digital market is here, you need digital armor to compete
JD Power recently reported some surprising news: 47% of all auto policies are now transacted digitally, with another 17% through call centers. […]
Workers Comp: Lowballing Headcounts
One common form of rate manipulation in WC is lowballing the employee count at policy inception. While an audit (usually 13 to […]
Water Wishful Thinking
Underwriting Assumption: “It says hydrant within 1,000 feet. Good protection class. Let’s move on.” Reality: I drove the street, squinted, then laughed out loud. […]
False or Omitted Asset Details
A common underwriting fraud tactic in both Home and Auto insurance is to manipulate auto and home asset details at POS to […]
Commercial Use
A common fraud is when a person or business acquires a personal auto policy for vehicles used primarily for non-personal business use.. […]
Wrong Address
One common form of rate evasion in Auto is when a different, lower risk address is given during the quoting process. Even […]
What’s next: The Insurtech shift toward real-time risk mastery
Munich Re Ventures nails it – Insurtech 1.0 was about digital wrappers. 2.0 brought data pipes and APIs. Now comes the hard […]
Underwriting fraud isn’t hard to find and stop – if you’re prepared
Underwriting fraud isn’t subtle-it’s just that most carriers haven’t done the work to automate detection and elimination in the limited time available. […]
Bundling isn’t a strategy
P&C specialist reports that Personal Lines carriers are increasingly turning to product bundling strategies to defend their market share and margins. Bundling […]
Tariffs are just one more uncertainty that insurers need to manage. But far from the biggest.
The insurance industry is once again in a race against rising costs. The on again, off again trade posturing across the globe […]
Progressive is growing so fast because they know that the key to insurance success is advanced risk selection
Progressive has mastered the art of turning insurtech into profit, while the rest of the personal lines insurance industry continues to miss […]
Can Insurers Fix Flawed Risks Before It’s Too Late?
The personal lines property and casualty insurance market is at a breaking point. Catastrophe losses are mounting, regulatory pressures are shifting, and […]
