How to Harness External Data for Underwriting
On the front line of a “data war”: how to harness external data for underwriting
All re/insurers understand that data has the potential to revolutionize their underwriting function—but this remains a journey rather than a destination for most. Three experts involved in this mission every day attended an Intelligent Insurer webinar, sponsored by Precisely, to share their experiences and advice on maximizing the power of data in leveraging underwriting.
To get ahead of the competition, insurers must combine internal and external data to gauge risk accurately. But managing growing mountains of data is no mean feat. The danger is that if you don’t operationalize and enrich your data, you’re going to lose out when it comes to accurate pricing, enhanced profitability and delivering value to your customers.
These were some of the issues discussed during an Intelligent Insurer webinar titled “Harness External Data for Underwriting: Operationalize Data to Increase Profitability and Drive Value for Customers” and attended by experts from Hiscox and Swiss Re and sponsored by Precisely, a global leader in data integrity, whose brand was unveiled following Syncsort’s acquisition of the Pitney Bowes software and data business in December last year. The brand underpins world-class business with leading software and data enrichment products. Precisely has annual revenues in excess of $600 million, some 2,000 employees and 12,000 customers in more than 100 countries. It provides companies with accurate and consistent data to help them make better business decisions.
This whitepaper showcases how insurance underwriting experts share their experiences and advice on maximizing the power of data in underwriting. Read more.