Continuous underwriting can boost insurers' small-business relationships

By leveraging new technology-based solutions, a growing number of insurance companies are able to continuously underwrite a number of their small-business clients. (Photo: Rymden/Shutterstock)

While many are familiar with the ways telematics may be bringing about a transformation of sorts to certain aspects of personal auto insurance, at the same time new technology-based solutions are making an impact on small-commercial insurance in new and different ways. 

For instance, by leveraging new technology-based solutions, a growing number of insurance companies are able to continuously underwrite a number of their small-business clients. These new solutions, which use automation, AI and proprietary algorithms to tap into and qualify a wide range of new and alternative data sources, can enable insurers to monitor how the activities and risk profiles of small-business clients may be evolving within the policy period.