Underwriting
Underwrite or Autowrite? How Machines Help (or Hurt) the Underwriting Profession
The person who invented autocorrect should burn in hello. We've probably all seen some form of this joke and thought about a situation where a word we wanted to type was replaced by one we definitely ...
Travelers, Google Cloud to Build Data System to Underwrite Commercial Risk
Google Cloud and The Travelers Companies said they are working together to create a cloud-based data ecosystem that will help Travelers' underwriters more efficiently evaluate risks for large and ...
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of ...
Underwriting No Longer Sole Path to Profit, Say Berkley Execs
While the days of cash flow underwriting are a distant memory for veteran insurance executives, the need for industry's more recent "preoccupation" with underwriting profit is starting to subside, ...
State Farm Invests $1.2B in ADT; Adopts ‘Predict and Prevent’ Mindset
State Farm and ADT, a smart home provider, announced that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation's largest insurer a 15 percent ownership stake ...
Judge’s Order: Credit Scoring Ban Finito In State of Washington
Earlier this week, Judge Indu Thomas entered the final order declaring that Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule banning the use of credit-based ...
50-50 Split: Reinsurers Feel Strongly Both Ways About Catastrophe Risk
The natural catastrophe business of global reinsurers has been reshaped by five years of higher-than-expected losses, which is leading reinsurers to adopt divergent strategies—either diving in to ...
Breaking Down Inflation’s $30B Impact on Insurers Line By Line
Experts at McKinsey & Company estimate that inflation pushed loss costs for property/casualty insurers up roughly $30 billion last year, with nearly three-quarters of that figure coming through ...