Month: September 2017

The Future of Technology and Big Data in the Underwriting Process

The Future of Technology and Big Data in the Underwriting Process The Future of Technology and Big Data in the Underwriting Process

In comparison to other industries, the property and casualty insurance industry has been a slow adopter of technology. Some of this can be blamed on carriers that prefer to operate as they always have. Another reason is the aging population of insurance agents. Research shows that the average insurance agent is 59 years old, and […]

How Insurance Risk Services Strengthens Underwriting and Preserves Profitability

How Insurance Risk Services Strengthens Underwriting and Preserves Profitability How Insurance Risk Services Strengthens Underwriting and Preserves Profitability

We’re currently experiencing a crowded and highly competitive market for property and casualty insurance carriers. We’ve talked about how the industry is evolving and how insurtech companies are transforming the insurance space. This increased competition is making it more challenging for carriers to reach profitability goals. However, some carriers are shifting their focus from writing […]

Drones Are Being Used as Inspection Technology for Hurricanes Harvey and Irma

Drones Are Being Used as Inspection Technology for Hurricanes Harvey and Irma Drones Are Being Used as Inspection Technology for Hurricanes Harvey and Irma

Hurricanes Harvey and Irma have caused billions of dollars in damage over the past few weeks, resulting in a historic humanitarian disaster. The flooding that Harvey brought to homeowners in Texas was especially devastating as many of the affected properties did not have flood insurance as they were outside of the hundred-year floodplain. Although the […]

How an Insurance Inspection Helps Homeowners to Minimize the Risk of Flood Damage

How an Insurance Inspection Helps Homeowners to Minimize the Risk of Flood Damage How an Insurance Inspection Helps Homeowners to Minimize the Risk of Flood Damage

We are most certainly in the midst of hurricane season. It’s estimated that Hurricane Harvey will inflict as much as $30 billion in damages on homeowners. While the effects of Harvey are devastating, Hurricane Irma is projected to cost insurers up to $65 billion in claims. A private homeowner’s insurance policy will typically cover wind […]