American Association of Insurance Services (AAIS) publishes article by Devyn McNicoll, Pinpoint’s Head of Actuarial on the advantages and benefits of P&C insurers to implement the power of behavioral intelligence in underwriting to combat the challenges facing underwriting profitability.
Devyn details how the burdens of underwriting losses, economic conditions, unpredictable weather, and market disruptions combined with the overwhelming submission volumes and inaccuracy in risk prediction are contributing to the challenges for P&C insurer underwriting teams, and it is through modernizing risk assessments using behavioral predictions that can make significant improvements across the insurance value chain and lead insurers back to long-term profitability.