Underwriting & Pricing
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Allstate's chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier's largest mutual competitor—State Farm—to move ...
Small Biz Commercial Underwriting Needs Real-Time Data, Transparency: NeuralMetrics CEO
Name, address, and email or website. Those are the bits of information that InsurTech data provider NeuralMetrics needs to deliver a classification code and risk insights about small businesses to ...
Avoiding the Black Box: How to Apply Machine Learning to Actuarial Pricing
Applying machine learning to pricing and actuarial workflows is becoming easier due to advances in technology and increasingly accessible platforms. These complex algorithms will not replace business ...
More Than Technology: Reskilling ‘Decision Artists’ Core to Nationwide’s Underwriting Transformation
Underwriter, production underwriter, manager, underwriting director, and commercial underwriter officer are just a few of the titles that Nationwide's Tony Fenton has held over the course of a ...
Down Nearly 15%: Falling D&O Prices Becomes A Thing After Years of Hikes
Directors and officers liability pricing fell 14.7 perecent in the third quarter, according to a recent survey. Aon's Financial Services Group's Q3 2022 pricing index for the quarter ending on ...
GEICO Faces California Class Action Claiming It Overcharged for Car Insurance
A federal judge on Monday said a lawsuit accusing GEICO Corp. of overcharging more than 2 million California policyholders on car insurance early in the COVID-19 pandemic may proceed as a class ...
Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Global insurance pricing continued to rise during the third quarter, which saw commercial insurance premiums increase an average of 6 percent, down from 9 percent in Q2, according to Marsh's Global ...
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
European reinsurers will miss their earnings targets in 2022 — for the sixth year in a row — which is pressuring the industry to raise rates and continue improving the quality of their ...