Underwriting Margins for Reinsurers Will Reach Peak in 2024
The underwriting margins for reinsurers are anticipated to reach their peak in 2024, driven by significant price increases and stricter terms and conditions
Underwriting process
Underwriting Process focuses on the methods and practices insurers use to evaluate and assess risks before issuing policies. This process involves gathering detailed information about applicants and their circumstances, including their health, lifestyle, and financial status. Insurers use this data to determine the likelihood of a claim being made and to set appropriate policy terms and premiums.
The review category looks at the various stages of underwriting, from initial application review to the final decision-making. It also covers the tools and technologies insurers employ to streamline and improve the underwriting process. This can include data analytics, automated systems, and machine learning algorithms that help in risk assessment and decision-making.
In essence, the “Underwriting Process” category provides insights into how insurers manage risk and ensure that policies are issued to those who meet their criteria. It highlights the balance insurers must maintain between thorough risk evaluation and efficient processing.
Global Insurance Market Dynamics, Products & Trends for 2024
Global Insurance market continued to moderate in 2024 as insurers sought to balance growth with profitability, divergent conditions
Navigating the Challenges of Property Insurance Market
Q4 has historically been an important time for the Property insurance market, as the peak reinsurance renewal season approaches, and the Atlantic hurricane season runs
U.S. D&O Liability Insurance Continued to Generate Loss
The U.S. directors & officers (D&O) liability insurance segment continued to generate favorable loss ratios through the first half of 2023
Data Allows Insurers to Manage Risk & Improve Insurance Underwriting
Data brings a great opportunity in the quest to manage unpredictability; it allows insurers to better manage risk and improve insurance underwriting
How Life Insurers Can Leverage ChatGPT and AI in the Underwriting Process
Everyone is talking about ChatGPT and how it’s going to revolutionize almost every business sector. The life insurance industry is no exception
Global Reinsurance Capital in 2023: Reduced Asset Prices Erode Book Values
New reinsurance capital formation is limited, and investors remain concerned about the impact of climate change and inflation
Top Trends Global Reinsurance: Hard Market, Strong Pricing & Specialty
The global reinsurance industry reached a tipping point during the 2024 renewals as their bargaining power vis-à-vis their cedents moved substantially in reinsurers’ favour
AI Technology & Data Analytics Will Help Insurers Refine Insurance Market
As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond companies to be more responsive
Reinsurance Rates for Property Catastrophe Forecast
Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed
How Can Insurers Create Powerful Customer Experiences?
Insurance customers, agents, and brokers have come to expect a certain type of experience based on daily interactions with modern technology platforms
Major deals have led global M&A activity in 2024, showing increasing confidence among dealmakers despite geopolitical and economic challenges
Hurricane Milton is anticipated to be one of the most powerful and economically detrimental hurricanes to make landfall in the western region of Florida
There are approximately 133 million healthcare data breaches each year. Healthcare systems remain complex to secure, and cybercriminals take full advantage of this
Insurance claims management software can streamline intake, evaluation, validation, payouts and closure. Unfortunately, not all platforms are built to the same standard