Cloverleaf Analytics to offer AAIS Members end-to-end insurance intelligence solutions backed by decades of in-depth experience and best practices.
Our latest installment of the AAIS Webinar Series featuring AAIS Partner, reThought Flood, explored the innovative approaches to enhance flood insurance coverage and profitability while addressing the challenges faced by the market. Speakers highlighted the long-standing gap in flood protection and the urgent need for change, emphasizing the importance of education, mitigation, and accurate underwriting to make flood insurance sustainable and profitable. They also discussed how reThought Flood’s AI technology can more accurately predict risks. John Kadous, Vice President of Products at AAIS, led the discussion with Cory Isaacson, Chief Executive Officer of reThought Flood, and Derek Lynch, Chief Underwriting Officer of reThought Flood.
Stanley Parsons Insurance Services to offer AAIS Members access to comprehensive product development solutions that enhance speed to market and accelerate development processes.
This article builds on our previous blog on the Speed to Market (S2M) Toolkit, where we discussed how the road to implementation can be fraught with IT implementation challenges. These challenges do not revolve around your developers or programmers; they often stem from the complex requirements of a new or updated product, such as detailed forms, endorsement attributes, precise rating information, and accurate premium calculation steps.
A 2019 article focusing on insurance underwriting by McKinsey stated, “Based on our observations, anywhere from 30 to 40 percent of underwriting’s time is spent on administrative tasks, such as rekeying data or manually executing analyses.”
The auto insurance landscape is evolving rapidly, driven by technological advancements and changing consumer preferences. The third annual AAIS Driverscape report provides valuable insights into these shifts, helping insurance carriers navigate the complexities of the modern market.
Carrier Management recently published a release from AM Best revealing that the homeowners insurance sector suffered an underwriting loss amounting to $15.2 billion in 2023. This loss is more than double that of the previous year and marks the worst underwriting results since 2000. This spike is attributed to increased weather-related events and shifting population demographics, leading insurers to confront significant challenges in underwriting and risk assessment.
Our latest installment of the AAIS Webinar Series featuring AAIS Partner, OneShield, covered how carriers can effectively leverage and transform core system data into actionable insights to strengthen business decisions and policy claims management. Speakers explored the valuable data types within core systems such as policy, claims, and customer interactions, techniques for extracting and processing this data, and real-world examples demonstrating the impact of these insights. They also discussed the shift from static reports to dynamic data visualization and offered tips for identifying key insights critical for various stakeholders, including underwriters and claims managers. John Kadous, Vice President of Products at AAIS, and John Dunn, Vice President of Sales at OneShield led the discussion with Travis Mayfield, Reporting Product Manager at OneShield.
Pinpoint Predictive to offer AAIS Members access to their revolutionary risk selection platform that goes beyond traditional variables.
