Commercial insureds struggling with values collection may make this situation worse with stale, incorrect data. Insurers that fail to manage this data effectively may undervalue policies and insufficiently fund reserves. (Photo: Who is Danny/Adobe Stock)
Preliminary findings from the upcoming 2023 State of Risk report — which includes a survey conducted by Origami Risk during the fourth quarter of 2022 of roughly 300 C-level executives across insurance, risk, safety and compliance markets — indicates a shift in risk programs that may represent a major opportunity as well as a considerable challenge for commercial insurers. Those insurers able to leverage these trends, and the likely deluge of data accompanying them, are poised to succeed. Failing to adapt to new technology and gain insight from new data sources could be a significant missed opportunity.
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