Analyst Report

Risk Assessment in a Turbulent World

Discover the steps insurance industry data leaders are taking to meet new global challenges via risk assessment. Climate change and rising customer expectations are creating the perfect storm for risk management executives. Accurate location data has become a vital tool for insurers grappling with these competing demands. That is what was discussed at a risk management roundtable that brought together 16 business leaders from Hiscox, AIG, QBE and more.

This report summarises the key takeaways that were discussed at this event, with in-depth commentary from three industry experts who were in attendance. It’s packed with essential insights to help insurers deliver a hyper accurate risk assessment in near real-time. Steven Wilkins, Head of Data Labs at Hiscox, outlines how his team is working to meet rising customer expectations and digitize outdated business processes.Chris Wyard, Head of Technical Data at Allianz Insurance, argues that insurers must take steps to safeguard the quality of their data as they deploy increasingly sophisticated capabilities. Simon Perry, Insurance Client Director at Precisely, summarises his key takeaways from the evening and looks at how insurance companies can ensure they’re working with high quality data. What’s more, our attendee survey provides an exclusive snapshot of where the insurance industry currently is on the path to data maturity.

You are about to get an exclusive peek into the minds of 16 of the insurance industry’s top data and analytics leaders. Having attended Corinium’s Realising Risk roundtable, I can tell you how rare it is to have so many leading figures from one industry together in such an intimate setting. At Precisely, we’re proud to be a trusted partner to many of the world’s largest insurers. For more than 30 years, our location intelligence solutions have been providing the industry with access to accurate location data spanning more than 200 countries and territories. Location data is our passion. So, the opportunity to understand the issues insurers face with location data and hear what steps they’re taking to overcome their greatest challenges first-hand was impossible to resist. Listening to the industry experts at this roundtable dinner left me with three key insights into their world. -Simon Perry, Insurance- Client Director, Precisely

Corinium Risk Assessment in a Turbulent World