With the increases in risky driving behavior and claims severity on the rise, insurers will need to leverage traffic violation data to better anticipate future risk and proactively adjust rating plans. With the increases in risky driving behavior and claims severity on the rise, insurers will need to leverage traffic violation data to better anticipate future risk and proactively adjust rating plans. (Photo: CARLOSRAMOS/Adobe Stock)

Editor’s note: This is the second part of a three-part series. Be sure to read part one as well as the concluding installment

In part 1, we overviewed some of the conditions that laid the groundwork for a very unprofitable year for insurers in 2022. We pointed out the need for collaboration and exploitation of technology and data analysis to be able to turn 2023 around. We also outlined some of the most important questions that need to be answered to ensure insurers and consumers continue to benefit.

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?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

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 © 2024 ALM Global, LLC. All Rights Reserved.