How Data and Analytics Are Transforming the Risk Business

With vast amounts of data available, many insurers face a difficult challenge finding the right data and using it effectively. Those that succeed, though, can see a significant payoff. According to a survey by Willis Towers Watson, over two-thirds of insurance companies reported that predictive analytics helped reduce underwriting expenses, and 60% credited the additional insights for increased sales and profitability.

We recently spoke with Maroun Mourad, President of Global Underwriting at Verisk, to discuss how data, analytics and digital technologies are transforming the industry and delivering benefits for risk professionals. He explains how innovation is helping companies reimagine insurance and improve the customer experience.