With increased catastrophes, a changing market environment, and pressure on profitability, the insurance industry has a greater focus on preventable losses than ever before. While insurance has always been a data-driven business, access to new data sources with AI and machine learning is redefining the industry with better underwriting capabilities to minimize or eliminate claims through more proactive risk mitigation.
As the industry becomes more attuned to environmental, societal, and technology risks, insurers are focused on improving risk management strategies and leveraging digital technology to find more effective ways to identify and address them.
Read this report to learn more about:
- The challenges insurers face due to evolving risks
- The risk management strategies and solutions leading insurers are investing in
- How a leading mutual insurance company has successfully reduced preventable losses, increased profitability, and strengthened their brand reputation