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26 Apr 2021Ended

Evaluate the Latest Tools for Risk Assessment: Move from Traditional Rating to Data-Driven Methods

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upto 100
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Apr 2021

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Evaluate the Latest Tools for Risk Assessment: Move from Traditional Rating to Data-Driven Methods. Use data from satellites and drones to observe .. Read more properties quickly on a granular level, reduce evaluation costs and analyse loss prevention methodologies before quoting, so you can spend less time researching the risk and more time reducing loss ratios. Address the successes and failures of telematics, usage-based insurance and behaviour-driven models (eg, wearables) to categorise customers into risk classes. Provide tailored, outcome-based services for customers, while improving the underwriting process and speed of recovery. Exploit text/image analysis and sensor data to forecast risk with frequent touchpoints and real-time sensor data. Discuss how the EU General Data Protection Regulation may limit the use of sensor data. Cater to your clients’ needs. Harness the power of real-time data from sensors to obtain a better understanding of your customers’ needs and deliver tailored, bespoke products that are priced more accurately. Deploy AI/ML to analyse the vast amounts of data created by the IoT and make steps towards truly dynamic pricing.

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