How data and analytics are transforming specialty pricing
Read our latest research report in partnership with Insurtech Insights
Specialty classes are among the most complex in all of insurance to price. Most specialty lines exhibit fast-changing dynamics and many specialty books have long time horizons, requiring prices that will need to hold for many years ahead. A lack of data is common in specialty, thanks to either the difficulty of gathering data and/or books that are relatively new and lack historical context.
For this report, we gathered insights and best practices from underwriting and actuarial leaders from Ms Amlin, AXA XL, Everest, HDI, Aegis and Swiss Re to provide answers to questions such as:
What are the perennial challenges faced in conducting specialty pricing?
How will a data platform help?
How will improved data and analytics drive competitive advantage?
What are the benefits for specialty insurers?
What are the benefits for underwriters and actuaries, and how will their roles change?