Amid a challenging market, the use of advanced technology and maintaining an exceptional relationship with clients has secured Technical Risk Underwriters a leading position in its field, as the company’s CEO, Mike Pilla, tells Intelligent Insurer.
The advancement of technology has significantly boosted efficiency and accuracy for many insurance businesses by increasing the level and detail of data analytics that can be used.
For Technical Risk Underwriters (TRU), a specialty underwriter of insurance products for complex property and construction risks, better technology has helped the company to precisely analyse risk exposures for clients and to retain its leading position in the market.
“Back in the day everything was done by looking at locations on maps and keeping track of the concentration of exposures on index cards, but today geographic information system (GIS) software and digital mapping, etc, allow you to fully understand certain types of exposures that exist that might not have been quantifiable decades ago,” says Mike Pilla, CEO of TRU.
Mike Pilla, Technical Risk Underwriters, North America