AMWINS
New innovations and trends It ’ s not only the customer-facing side of insurance that is seeing marked trends emerging -- P & C and underwriting are also at a transition stage . Parsons says the insurance industry is broad and diverse in its makeup , with underwriters quantifying risk for the purposes of calculating premium on a wide variety of risks daily .
From complex parametric triggers to more ‘ traditional ’ property risks , underwriters calculate the premium required for risk to be transferred . “ However , as broad and diverse the insurance industry is , there are a number of general trends we see taking place ,” he points out , including :
Increased focus on structuring and
“The combination of more costeffective data storage and processing technology with advances in machine learning and deep learning techniques is opening new areas of development ”