Here's how you reduce first year auto losses by five or more points.
Everyone in Property & Casualty insurance industry knows about the first year auto insurance loss ‘bump’ – new business almost always loses […]
Auto Insurance customers are changing – which means trouble for carriers
“We’re not making money on direct, online business” is something we hear from a number of carriers. Some of them are fairly […]
idMobile Prexisting damage
We have just completed a national pilot of idMobile. The pilot required that all customers seeking a quote download the idMobile app […]
Carriers are failing to fully exploit mobile technologies to reduce auto insurance fraud
We’ve all seen the ads for auto insurance carrier mobile phone apps. They show happy policy holders using their smart phones to […]
Insurers can't stop fraud and misrepresentation with only data – Part 2
In part one (it can be accessed here) we explained that there is a fundamental limit to the ability of data alone […]
Insurers can't stop fraud and misrepresentation with only data – Part 1
Insurance carriers use third party data to validate the information auto insurance customers are submitting to get a quote because getting the […]
The Definition of a Good P&C Insurance Customer
What makes a buyer of personal auto insurance a ‘Good’ customer? If we define ‘good’ as ‘profitable’ over the lifetime of the […]
What P&C Insurers can learn from New York City
Thirty years ago New York City was a mess, the streets were trash strewn and potholed and people were fleeing in droves. […]
How customers get auto insurers to pay for preexisting damage (and how to stop them)
Say you have some damage to your car: nothing big, maybe a few dents up front with some scratches amounting to a […]
To beat rate manipulation, Property and Casualty carriers should watch their customers shop.
Most large personal lines carriers feature on-line quotation systems where consumers can get a quote in as little as three minutes. This […]
Mobile is a much bigger opportunity
There are lots of things that the P&C industry could do to take better advantage of Mobile technologies. Right now they do […]
Auto Insurers keep looking for their lost keys underneath the streetlight.
Root is a new auto insurance product that uses an app to track prospective customers’ driving for a period of time. The […]
