With the increases in risky driving behavior and claims severity on the rise, insurers will need to leverage traffic violation data to better anticipate future risk and proactively adjust rating plans. (Photo: CARLOSRAMOS/Adobe Stock)
Editor's note: This is the second part of a three-part series. Be sure to read part one as well as the concluding installment.
In part 1, we overviewed some of the conditions that laid the groundwork for a very unprofitable year for insurers in 2022. We pointed out the need for collaboration and exploitation of technology and data analysis to be able to turn 2023 around. We also outlined some of the most important questions that need to be answered to ensure insurers and consumers continue to benefit.
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