Apr 15, 2021
Competition in the insurance industry is fierce, and the
professional liability segment is no exception. Sixty-eight percent
of insurers
surveyed agreed that predictive analytics had a positive impact on
increased sales and cross-selling, and 41% reported that
predictive
analytics helped reduce underwriting expenses and claims costs.
However, predictive analytics also enables brokers and agents to
provide their insureds with faster and improved service.
We recently spoke with Daniel Mogelnicki, SVP for Underwriting -
Professional Lines at Tokio Marine HCC - Cyber &
Professional Lines
Group, about the use of predictive analytics in professional
liability. He explains the impact that it has on pricing and risk
assessment and why
this technology will become more widely used in the future. To
learn more, hit play.