OLDWICK, N.J.–(BUSINESS WIRE)–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from outdated, static data sources to real-time, dynamic information,”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
policyholder’s knowledge); -
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.
AM Best is a trusted source of insurance market insight and data, and
the only global credit rating agency with a unique focus on the
insurance industry. Best’s Credit Ratings are a recognized indicator of
insurer financial strength and creditworthiness. Visit http://www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Company, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
Contacts
Patricia Vowinkel
Executive Editor, Best’s Review®
+1
908 439 2200, ext. 5540
[email protected]
