Underwriting & Pricing
How Will Rising Okla. Earthquake Risks Shake Up the Insurance Market?
The magnitude 5.0 earthquake that struck near the oil and gas storage hub of Cushing, Okla., on Nov. 6 put the nation on alert to the vulnerability of the country's oil reserves to the significant ...
Life-Saving Tech Not Yet Standard on Most Cars
Computerized sensors that warn drivers they're about to rear-end another vehicle or prevent other types of accidents are available on models made by every major auto manufacturer. The problem, ...
Drone Makers Shift to Commercial Uses as Consumer Market Crashes
The fledgling drone industry is in the throes of change as weak consumer demand and falling prices drive startups to shift their focus to specialized business applications. 3D Robotics, an early ...
Reporter’s Notebook: 10 Takeaways From InsureTechConnect
You've probably heard there is tremendous investor interest right now in technology-first insurance startups, or InsurTech firms. The first InsureTech Connect Conference in Las Vegas in early October ...
Does Analytics Mark the End of Underwriter Influence?
Underwriting is the secret sauce of the insurance industry. The process of selecting and pricing risk is essential to the profitability of a carrier, and the deep expertise necessary for this skill ...
Drowsiness a Problem for Teen Drivers: Liberty Mutual
More than half (56 percent) of licensed teens admit to having driven when they felt too tired to drive their best, and almost a third (32 percent) are driving drowsy at least sometimes, according to ...
Not All ‘Optimization’ Is Price Optimization; Allstate’s CGR Proves It
"The purpose of price optimization is to extract as much profit as possible from policyholders, who are often required to purchase insurance policies," according to a February 2015 press release from ...
An Accident of the Rating Process: Allstate’s Cure Explained
In Part 1 of this article series, I described cost-based pricing used by actuaries, which includes business judgment—introducing differences between the technical price indication for a book of ...