Personal Lines
Verisk Analytics Forms Verisk Climate Division
Verisk Analytics announced last week that the firm has formed Verisk Climate, a division to respond to customers' needs for new solutions to manage enterprise climate and environmental risks. Verisk ...New York’s Regulator Urges Obamacare-Like Standardization of Homeowners Policies
Homeowners' insurance needs to be more standardized because customers are confused about what their policies protect, New York's financial regulator said. Few fully understand all the complexities of ...
Predictive Analytics: Bringing Price Elasticity Concepts to P/C Insurance
The concept of price elasticity of demand has not received enough attention in the world of property/casualty insurance. Regulatory hurdles, a tradition of cost-plus pricing and maybe even an ...
Electronic Aggression: Uncovering Expensive Coverage Gaps
It used to be bullies were restricted to the playground—but not anymore. Cyberbullying is at epidemic levels. Facebook, YouTube and other social media have become platforms for bullying, and ...
Are Traditional Insurers Ready For P2P Car-Sharing Challenges, Opportunities?
The emerging trend in sharing personal assets—sometimes referred to as "collaborative consumption" or "the sharing economy"—presents challenges and opportunities to property/casualty insurance ...
Five Myths About Predictive Analytics You Can’t Afford to Believe
Predictive analytics has a relatively long history in the P/C insurance industry. From the early 1990s, when early adopters began to use predictive modeling for rating and underwriting, to more ...
Using Big Data To Improve Homeowners Insurance Products
There is no doubt that so-called Big Data is changing the way many companies do business. The volume of information being generated by web activity is growing exponentially and the technology has ...
Will HUD’s Disparate Impact Rule Have Say in Ratemaking?
Despite the McCarran-Ferguson Act, which reserved the regulation of the "business of insurance" to the states, the Department of Housing and Urban Development (HUD) has given itself the ability to ...