X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Insurance companies with 'first-mover advantage' must now tighten their underwriting practices and guidelines around predictive analytics. (Photo: iStock)

In 2017, 62% of insurers incorporated predictive analytics into their underwriting, according to the “2018 Outlook Report” from Valen Analytics. The majority of insurers are utilizing data-driven approaches to better understand their risks in underwriting commercial business.

But the business advantage of analytics enjoyed by early adopters can mistakenly be viewed as less valuable today, as more companies catch up.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dax Craig

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.