Boston, July 14, 2016 – Property and casualty premium has slowed somewhat in recent years, and U.S. carriers are looking to small commercial for more rapid growth. This will not be easy, as the evolving small commercial segment is complex to underwrite and requires a broad understanding of data. Carriers looking to get a firmer grasp of this complexity will likely have to shift their underwriting culture, embrace new norms, and invest in the appropriate infrastructure to ensure solid execution.
Based on 20 Aite Group interviews conducted between April 2016 and June 2016 with industry leaders, this report examines the factors shifting the U.S. small commercial market, the challenges facing carriers that wish to underwrite this business, carriers’ innovative small commercial underwriting techniques, and the technology vendors looking to drive this innovation. It profiles Ask Kodiak, Bold Penguin, Elagy, Hamilton Insurance Group, Hiscox USA, Intellect Seec, Ivans Market Appetite, LexisNexis Risk Solutions, Oceanwide, Safesite, SAS, Slice, Social Intelligence, and Verisk Risk Solutions.
This 38-page Impact Report contains three figures and three tables. Clients of Aite Group’s P&C Insurance service can download this report.
This report mentions AIG, Airbnb, Amica, Applied, Chubb, CNA, Facebook, Google, Hanover, HawkSoft, IBM, Insureon, Insurity, LinkedIn, Lyft, Oracle, Selective, SIS, The Hartford, Travelers, Twitter, Two Sigma, Uber, Vertafore, Xanatek, and Yelp.