Predictive analytics is creating powerful and sophisticated new pricing models in personal and small commercial lines and is widely viewed as critical for intelligent growth. Collaboration and cross-selling increasingly are seen by middle market and larger commercial lines writers as a means to improve account management and retention. But many carriers are falling short in their underwriting operations, leaving them at a clear disadvantage in an intense competition for profitable growth.

Landmark events such as 9/11, Katrina, and Enron have sparked demand for greater precision in location intelligence and analysis of enterprise risk management abilities. In addition, customers are demanding their insurance companies be easier to do business with while company executives look to their underwriting departments to make faster and more accurate underwriting decisions and price risks more precisely.

Insurers no longer can regard the use of location intelligence in underwriting solely as a means of managing catastrophes or protecting their surplus. It has become a necessary ingredient for building better rules, developing innovative products, achieving straight-through processing, and driving growth.

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