The past 18 months have been challenging for auto insurers. Back-to-back years of combined ratios at or above 110% and forecasts suggesting profitability difficulties through 2025 are leading many carriers to rethink their next steps.
In this episode of the "Insurance Insights: Using Data for Good" podcast series, Tim Grant, senior director of auto underwriting at LexisNexis Risk Solutions, offers insights for successfully navigating a profit-challenged auto insurance market.
You'll also hear:
- Details about the factors that most challenged profitability during 2023.
- The highest-value actions that insurers can take to win more business in 2024, including a strategic renewal strategy.
- How leveraging data (internal and external) can help insurers develop a winning renewal strategy.
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