EY Says P/C Insurers Need 'Fresh Approach' to Face Disruption

This Week in Analytics: News

Analytics in Core: How Acquisitions are Reshaping the Landscape, W.R. Berkley CEO Chides P/C Companies for Fighting Change, How Digital Distribution and Underwriting Can Close Protection Gaps, U.S. P/C Insurers Heading for 2016 Underwriting Loss: A.M. Best, Two-Thirds of Insurers Find Data Quality Lacking Hampering Analytics

Analytics in Core: How Acquisitions are Reshaping the Landscape

With last week’s announcement that Insurity has acquired Valen Analytics, the core and analytics landscape has changed again. We have been tracking M&A activity and outside investments in the core systems space for some time, and the past year has seen a marked trend toward the acquisition of data and analytics firms by core systems providers. Read the full article…

W.R. Berkley CEO Chides P/C Companies for Fighting Change

W.R. Berkley Corp.’s president and CEO chided the property/casualty insurance industry for being slow to change and embrace technology to improve efficiency and meet customer demands. Read the full article…

How Digital Distribution and Underwriting Can Close Protection Gaps

One of the major promises of insurance’s digital transformation is the ability to cover more risks for more people. That’s the view of the Geneva Association, an international insurance think tank, which issued a recent report stating that radical changes to the insurance value chain brought about by digitalization are expected to boost insurance demand via three major areas: affordability, awareness, and appeal. Read the full article…

U.S. P/C Insurers Heading for 2016 Underwriting Loss: A.M. Best

The U.S. property/casualty industry will likely post a small underwriting loss for 2016 after three previous years of underwriting profits, A.M. Best said in a new report. Read the full article…

Two-Thirds of Insurers Find Data Quality Lacking Hampering Analytics

Poor data quality is the biggest challenge for insurers looking to implement advanced big data and analytics in their enterprises, according to West Monroe Partners’ study, “Data Driven Insurance: Harness Disruption and Lead the Way. Read the full article…