The accelerating use of telematics offers underwriters ‘deeper insights’ to boost customer personalisation, says CCC Information Services.
Risk analysis is changing and offering underwriters greater insights than ever before giving them an opportunity to move beyond just modernising and digitising quotes, according to Jason Verlen senior vice president Product Management at CCC Information Services.
Verlen said that underwriters can now supplement traditional methods, such as credit scores, to assess policyholder risk, during a fireside chat titled ‘Modern Tools for a Modern World: AI and Telematics Deliver Smarter Risk Analysis and Stronger Customer Loyalty’ at Intelligent Insurer’s Underwriting Innovation USA virtual event.
The accelerating rise of telematics, which has provided greater access to rich data points that are easily integrated into carrier systems, has allowed underwriters to take a deeper look at insights critical to assessing and predicting customer behaviour. It also means underwriters can now deliver an end-to-end experience for consumers.
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