Tag: #alternativedata

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Data Partnerships Reshape Commercial Risk Underwriting

Data partnerships have been in existence awhile. The size of the global alternative data market is slated to top $17.4 billion by 2027 at 40.1% CAGR. This growth has multiple implications for insurers who lack the means to harness large data stores. Benefits range from new markets access to augmented customer experiences. Underwriters gain more…
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12 May 2022 0

The Underwriter’s Gambit Part 3: Third Party Data In Auto Insurance

In previous parts of this series, increased usage of algorithmic underwriting in complex risks and prevalence of integrated workbenches in life insurance were discussed, as ways in which traditional underwriting was modernizing. In this final part, the use of third party, alternative data in auto insurance underwriting is the focus. A recent Deloitte study found,…
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17 June 2021 0