This report looks at the underwriting data companies serving P&C insurance companies.
CB Insights identified 120+ underwriting data companies addressing 9 technology priorities, from computer vision to auto telematics, that P&C insurance companies face. The purpose of the analysis is to provide technology buyers with an overview of the technology landscape and its market participants.
Key themes explored in this report include:
- Automated underwriting: New digitized data sources and API connectivity are enabling insurers to instantly issue simple products — without the need for a human underwriter to review — at accurate prices.
- Product personalization: Insurers are using new technologies to provide more attractive and personalized products for their customers. For example, automobile telematics are enabling insurers to underwrite and issue pay-as-you-drive policies.
- Artificial intelligence: Artificial intelligence is central to many of these technologies, such as computer vision. As underwriters continue to collect increasing amounts of data, they will be able to leverage the AI capabilities of these technologies more effectively.
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