predictive modeling News

Florida Keys’ Citizens Look to Lower Islands’ Risk Profile, Rates

Frustrated by rising premiums, reduced coverage and a single market, citizens and officials in the Florida Keys are hoping to convince catastrophe modelers, insurers and reinsurers that their islands are not as big a risk for wind damage as they …

How Predictive Modeling Has Revolutionized Insurance

The use of predictive modeling has forever changed the way insurance policies are priced. The revolutionary tool allows insurers to design ever-more-sophisticated models that tap ever-more-detailed data sets to refine precisely how much each customer should be charged. Casualty actuaries …

Do Actuarial Models Influence P/C Underwriting Cycle?

Property/casualty insurance is noted for the sharp rise and fall of its rates – the underwriting cycle. As actuaries have developed more sophisticated statistical and computer models to help understand complex insurance problems, what has been their effect on the …

ISO, Willis RE to Offer ISO Risk Analyzer Predictive Models in the U.S.

Property/casualty insurance analytics provider ISO and Willis Re, the reinsurance broking arm of Willis Group Holdings, the global insurance broker, have formed a joint marketing relationship for ISO Risk Analyzer products in the United States. Effective immediately, Willis Re will …

Predictive Modeling Improving Insurers’ Bottom Lines, Market Share

Property/casualty insurance carriers currently utilizing predictive modeling continue to see their bottom lines improve and almost 4 out of 10 say it has helped them increase market share. For this and other reasons, predictive modeling also continues to gain momentum …