Most insurance carrier executives view maintaining loss ratios as the biggest obstacle to their success: Aite Group report
Boston, MA (June 2, 2020) – While the loss ratio problem can be solved multiple ways, carriers often employ risk mitigation to address the issue. Still, it’s one thing to talk about enhanced risk mitigation in the abstract and another thing to face it in practice. For Aite Group’s new report, Gauging North American Carriers’ Views of Enhanced Risk Mitigation, we decided to go right to the source—insurance carrier executives—to gauge carriers’ receptiveness to the concept of enhanced risk mitigation.
“Carriers have not been in a great position to look over their policyholders’ shoulders to ensure that they are avoiding risky situations and behaviors,” states Jay Sarzen, senior analyst at Aite Group. “In the past, helping policyholders avoid problematic choices has been limited to basic tactics, such as advising a business owner on how to establish good egress procedures. But the emergence of technology that enables enhanced risk mitigation, particularly telematics and advanced data analytics, have expanded carriers’ abilities,” he explains.
This Impact Report is based on surveys conducted with executives at property and casualty insurance carriers in North America, and focuses on carrier executives’ reactions to several enhanced risk mitigation concepts.
This Impact Report is based on two types of surveys conducted with 37 executives at property and casualty (P&C) insurance carriers in North America between February and March 2020.
Click here for the online summary or to download the table of contents.
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite Group