Auto insurers rode into 2021 on waves of change and uncertainty. Their challenge: Adapt on the fly to fast-evolving trends and thrive through disruption.
Four catalysts can improve and accelerate underwriting.
With upheaval affecting both commercial and personal auto, Verisk hosted a webinar to explore the chemistry of success—an innovation-driven formula for profitable growth. Four catalysts can speed up reactions that produce faster, better underwriting: Scalable technology, robust data and analytics, and a strong innovation partner—all leading to a new, smarter economic equation.
And we looked at three key strategies to accelerate competitiveness:
- Transform the customer experience for what comes next. That means delivering on a tall order of customer expectations: Fast and simple digital transactions, a human connection, secure access, and sophisticated products.
- Extract maximum value from insurance-ready data. It depends on multitasking data across the policy life cycle with real-time response and cost-efficient tools.
- Harness the potential of scalable technologies. A resilient digital ecosystem can give the confidence to scale up with minimal disruption to meet changing and growing customer demands.
The webinar further illustrated how that ecosystem can enable high-impact results and high-efficiency operations, as seen in multiple case studies demonstrating best practices and the latest technologies and advancements.
View the on-demand webinar: Auto Underwriting: An Innovation-Driven Formula for Profitable Growth