Technology & Analytics
The Care and Feeding of Property-Catastrophe Models
A wise statistician once said: "All models are wrong, but some are useful." The key to getting useful (accurate) model results is working with models that fit specific underwriting needs and making ...
Insurers Question Cloud Benefits
Nearly 40 percent of insurers remain unconvinced or dissatisfied with cloud computing, according to the results of a new survey, "Is Moving to Cloud Worth It?" by Celent, a research and advisory firm ...
Love Thy Frenemies: 3 Reasons an Interconnected Claims Network Benefits the Industry
Coming off the worst underwriting performance in over a decade, the U.S. P/C insurance industry continues to face significant headwinds that threaten profitability and efficiency. Massive ...
Is Insurance Recruiting Being Impacted by Artificial Intelligence?
The movie "Terminator 2" is the first thing that comes to mind when I hear about artificial intelligence. A universe where machines take over our daily lives seems so distant from my reality. Then ...
Navigating the Challenges of Wildfire Risk Modeling
As wildfires raged across Northeastern Canada in June, spreading toxic smoke across a large swath of Eastern and Central U.S., risk and insurance executives were reminded of the myriad challenges ...
Technology Is Moving Fast; Can Insurers Keep Up?
As evidenced by the recent popularity of generative AI tools, the tech landscape in insurance seems to be moving at an increasingly fast pace. "The AI space as a whole is moving faster than I think ...
How to Characterize Emerging Risks for Liability Modeling
This is the second part of a two-part article. In the first part, we defined a framework that can be used to classify both systemic and emerging risks. Here, we focus in on how this framework can be ...
How to Model Systemic and Emerging Risks for Liability Risk Management
While insurers' use of models to analyze and quantify risk is well established in the property space, it's becoming increasingly important in the casualty space. The use of models in this area has ...