Viewing entries written by Deb Smallwood
Personal Lines Underwriting is Entering a New Age of Data
It would not be an understatement to say that the insurance industry is built on data. For decades, insurers have harnessed data and analytics to drive risk analysis decisions, and perhaps no other segment has done that better than personal lines.
Tags: Underwriting
Automation Accelerates in Small Commercial Lines Underwriting
Over the past few years, insurers reexamined their strategies amid new demands and increasingly digital customer interactions, with underwriting departments, in particular, experiencing waves of changes. Now, new research shows the results of insurers’ efforts in transforming their underwriting businesses, and the small commercial segment is entering a new phase...
Tags: Underwriting
Adapting to Change: The Next Era of Underwriting in Mid/Large Commercial Lines
What word would you pick to describe the future of underwriting? If ‘adaptable’ came to mind, you would be joining the majority of insurer executives in the mid/large commercial lines segment who thought the same in a recent SMA survey.
Tags: Underwriting, Commercial Lines
How Personal Lines Insurers are Addressing Digital Transformation Gaps
The personal lines segment is known for leading the charge with innovations and technologies – a reputation that only strengthened during the pandemic. From digital underwriting submissions and virtual inspections to digital FNOL and other capabilities, personal line insurers were poised to meet the new digital needs of customers and...
Digital Transformation in Commercial Lines: A Frenzy of New Activity is Underway
Since 2020, there have been endless discussions around COVID-19’s impact on customers’ needs and how the insurance industry adapted swiftly to unprecedented times. Although the pandemic helped accelerate innovation in some areas of the business, many commercial lines insurers also came to realize how unprepared they were for the digital...
Five Predictions for Property and Casualty Insurance in 2022
The insurance industry faced a sobering wake-up call when the pandemic exposed just how unprepared insurers’ digital capabilities were in a crisis. But, in the past two years – particularly in 2021 – the industry has accelerated its digital development, making significant leaps forward in technology investments, workforce evolution, and...
Insurance Innovation: A Look at the Most Profound Changes From the Past 20 Years
Many of the innovations that drive the insurance business today were only figments of the imagination just two decades ago. Advancements in data, analytics, and technology have transformed every aspect of the industry, some more significantly than others.
5 Critical Digital Engagement Capabilities for P&C Insurers
A digital-first era for insurance
The Need for Proactive Digital Engagement in Insurance
Insurers shift to omni-channel operations
How P&C Insurers Can Assess Their Digital Maturity
The Strategy Meets Action Digital Maturity Model