The right property risk assessment strategy can help guide you toward smoother terrain.
The methods that property insurers leveraged yesterday to manage loss costs may no longer be viable today. Increasing expenses, labor shortages, inflation and other market pressures are adding time and expense to the property insurance underwriting process. These factors underscore the importance for carriers to not only optimize existing underwriting resources but leverage advanced data analytics tools to automate workflows and accurately and quickly identify property risks. Focusing on cost consolidation without also improving risk mitigation will only exacerbate profitability challenges. Innovative carriers adapting best practices today are able to better manage risks and quickly move forward on the path toward profitability.
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Are you a Trailblazer, Observer, or somewhere in between? Take this quick (two-minute) survey to benchmark your underwriting processes and get customized recommendations for how to future-proof your program.