AM Best reports on developing trends and issues surrounding the
relationship between data and risk management strategies in the May
issue of Best’s Review magazine. A key finding that emerged from
the reporting is that every solution presents a new set of challenges
that must be addressed in order for companies to leverage data
profitably and ethically.
“Insurers have a clearer picture of risk than ever before as they shift
from outdated, static data sources to real-time, dynamic information,”
said Patricia Vowinkel, executive editor. “However, this new wealth of
nontraditional data brings its own set of concerns.”
Topics addressed include:
Privacy and regulatory issues arising from collecting data through
sources like black boxes in cars and smartphones (usually without the
The pros and cons of information collected from consumer and medical
wearable devices; and
The potential of programmatic underwriting practices to shift
underwriting from an art to a science and the dangers of overreliance
on these tools.
Full access to the complete content of the May issue of Best’s Review
is available at www.bestreview.com.
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