For insurers, collecting as much information as possible is the name of the game, as it informs any number of insurance processes and ensures accurate risk assessment. With AI and machine learning, insurers now have powerful analytic tools to turn even more sources of underwriting insights into actionable intelligence. This not only enriches the underwriting process it also introduces efficiencies across the business. In this episode of the “Filling the Gap” podcast series, Othman Loudghiri,...

Each year, carriers spend countless hours applying changes to their rating content. It’s time-intensive work requiring precious resources to load only a fraction of these changes into their own rating engine. By digitizing this content, carriers can accelerate the adoption of rating changes and bring their products to market more quickly. In this episode of “Filling the Gap,” Mark Sheehan, vice-president of Underwriting Solutions at Verisk Analytics, reviews the benefits of RaaS and the...

The commercial insurance market is no stranger to advanced technology, using it to impact workflows to meet insureds’ demands for faster turnaround times and greater accuracy. Now, AI and ML are being applied to commercial insurance underwriting, helping insurers underwrite property risks more accurately and efficiently. In this Insurtech Center podcast, Elizabeth Casas, Verisk’s head of commercial lines, underwriting, goes deeper into how AI and ML are impacting commercial lines...

The P&C market has gone through rapid transformation in recent years, which is opening up new opportunities that are drawing investor interest to the trillion-dollar market. But what’s underpinning that interest, and what does that mean for property and casualty insurance? Cameron Parker, CEO of OneShield Software, takes a look at this in this podcast episode. He’ll also discuss: Investment trends in the startup sector Key success factors investors look for Impact of current economic...

The sheer volume of data insurers collect can make using it effectively an arduous task. But according to Dave Tobias, Betterview co-founder, and Rakesh Parikh, SVP of product development at OneShield Software, integrating the right data into the right process at the right moment is getting easier – improving speed, transparency, and the customer experience. They explain how technology plays a role in core insurance processes, such as helping underwriters make faster decisions about new...

In Q2 of 2022, OneShield surveyed PropertyCasualty360 readers to discover insurers’ biggest struggles in achieving their business goals. The survey found that almost half of respondents struggle with the same roadblock: accessing the right technology to stay competitive. Respondents also share the most significant barriers that prevent them from adopting innovation initiatives, including IT resources, staff, and infrastructure. Liza Smith, Chief Revenue Officer at OneShield Software, joins...

The rapid evolution of technology has quickly transformed what customers expect, how business is conducted, and the best way to secure a competitive advantage. But this has also prompted an important question: Is it “future-proof?” That is, will it become obsolete shortly after implementing, and what will the next trend be, such as the metaverse or Web 3.0, that will become a requirement for the next generation of insurer? Vivek Gujral, CTO & Co-founder of OneShield Software, joins us to...

Satyajit Nashikkar of OneShield breaks down the concept in this exclusive podcast episode from the “Top Tech Trends From Insurance Leaders” series. Launching a new initiative often starts with creating a “minimum viable product,” but for insurers who are increasingly expected to deliver fast and easy technology experiences, the path to creating a product that customers love isn’t always straightforward. “That’s where the “minimum lovable product” comes in” says Satyajit Nashikkar, Chief...

While the digital transformation has opened up new possibilities for insurance companies, it’s also opened up companies to new and more sophisticated security threats designed to take advantage of vulnerabilities and exploit unknown weaknesses. And they’re everchanging.  In the first episode of the “Top Tech Trends From Insurance Leaders” podcast series sponsored by OneShield Software, we’ll join Chad Galgay, CISO at OneShield, on the potential risks and the best ways to protect against...

As cyberthreats get more sophisticated, a new tool is emerging for carriers to fight the risk: behavioral biometrics. Find out more in this podcast with LexisNexis Risk Solutions.

Digital transformation was already taking hold in the insurance industry, and it’s had some in the industry asking “What’s next?” According to Reid Holzworth, IVANS CEO, the correct answer may be “What’s now?” We recently spoke with Holzworth to understand how the key to digital success may lie outside the tech, how consumers are being enabled by these advancements, and how an insurer can future-proof themselves as technology marches forward. To learn more, hit play.  

In recent years, customer expectations have evolved, with people expecting faster and more convenient experiences. This trend accelerated during the pandemic, partly driven by customers wanting to minimize unnecessary in-person interactions. As a result, customers became more comfortable with — and even prefer — online transactions. Carriers responded to this demand in many ways, but generally by using additional data and reducing unnecessary process steps. We recently spoke with Kelly Rush,...

The market is undergoing rapid changes — experiencing everything from rising inflation to increased costs of goods and supply chain issues. Many insureds reduced maintenance and repairs during the pandemic, and now getting these tasks completed is a challenge. Carriers need the ability to rate and underwrite based on accurate and up-to-date information, but evaluating risk continues to be difficult due to market changes, which are moving targets.  We recently spoke with Kelly Rush, Director,...

The war on talent is disrupting the insurance market as staff are stretched thinner than ever, and many employees are on the brink of retirement. The result is longer customer hold times and shorter adjuster hours because there aren’t always enough resources to manage workloads. However, automation and smart data hold the promise of reducing adjuster workloads to address growing demands. We recently spoke with Frank Cesario, Director of Claims LexisNexis, and Megan Hunsucker, Senior Vertical...

The pressure to deliver on rising customer expectations has never been higher. Up to 32% of customers report they are prepared to walk away from a poor experience, and this comes at a time when digital adoption is rapidly increasing. MGAs that leverage intelligent document processing enable faster times to market and unlock touchless processing capabilities, both important elements to improving customer satisfaction.  We recently spoke with Mladen Subasic, Head of Product and Innovation at...

MGAs are navigating a highly competitive market and require tools and strategies to keep pace with rapid changes. With underwriters spending at least half their time on tedious tasks such as rekeying data, recovering that lost time with an intelligent document process and data automation is important. In this podcast episode, Mladen Subasic, Head of Product and Innovation at OIP Robotics, and Chris Sylvester, Chief Information Officer at XS Brokers Insurance Agency, join Nicki Howell to...

Insurance carriers are focused on creating better claims experiences for customers, but when disruptors like a global pandemic or the Great Resignation add pressure to operations, it presents a challenge. As insurers navigate these forces, they are still required to deliver the easy and seamless interactions their customers seek, and data and automation can make this happen. In this podcast episode, the first in the “How Data Is Rewriting The Future Of Insurance” series by LexisNexis Risk...

With vast amounts of data available, many insurers face a difficult challenge finding the right data and using it effectively. Those that succeed, though, can see a significant payoff. According to a survey by Willis Towers Watson, over two-thirds of insurance companies reported that predictive analytics helped reduce underwriting expenses, and 60% credited the additional insights for increased sales and profitability. We recently spoke with Maroun Mourad, President of Global Underwriting at...

Auto and commercial fleets have always posed a risk management challenge, but evolving market conditions, such as the ongoing driver shortage and social inflation, are exacerbating those risks and further underscoring the need to mitigate these challenges. Telematics is a tool that helps insurers more accurately understand underwriting risk profiles to address potential issues and reduce exposure. We recently spoke with Greg Jacobs, Director of Product Management, IoT and Telematics at...