Business intelligence & telematics latest risk mitigation trends in P&C: Waterstreet

Business intelligence and telematics will be the latest trends in the property and casualty (P&C) insurance industry emerging for the second quarter, a recent analysis by insurance solutions provider Waterstreet Company has revealed. The company’s findings also highlighted the importance of innovative technologies and practices that reduce risk and improve […]

Business intelligence and telematics will be the latest trends in the property and casualty (P&C) insurance industry emerging for the second quarter, a recent analysis by insurance solutions provider Waterstreet Company has revealed.

claims technologyThe company’s findings also highlighted the importance of innovative technologies and practices that reduce risk and improve the overall performance of P&C insurance companies.

According to the analysis, business intelligence is one of the key trends transforming the P&C insurance industry. This technology, Waterstreet explained, helps insurance companies identify potential risks and develop proactive strategies to mitigate them, resulting in fewer claims and lower overall insurance costs for customers.

Telematics is another trend gaining ground in the P&C insurance industry. It uses data from connected devices to provide insights into driver behaviour, enabling insurance companies to better understand the risks associated with individual drivers and offer more tailored and cost-effective insurance policies.

Collaboration between insurance companies and other stakeholders, such as policyholders, regulators, and technology providers is important, Waterstreet also highlighted.

Tremor - The modern way to place reinsurance

The company believes that by working together, the P&C insurance industry can drive positive change and improve risk management practices.

Gregg Barrett, CEO of Waterstreet, said: “The P&C insurance industry is facing new and complex risks, and companies need to be innovative in their approach to risk mitigation.

“At Waterstreet, we are committed to helping our clients stay ahead of the curve by identifying the latest trends and developing new solutions that meet their evolving needs.”

Print Friendly, PDF & Email

Next Post

Jeff Bezos' $500 Million Mega Yacht Reportedly Sets Sail

Mon Mar 13 , 2023
Jeff Bezos’ mysterious mega yacht, which cost an estimated $500 million to build, has been the cause of much contention in the past due to its massive size nearly becoming the reason that a historic bridge in the Netherlands was going to need to be dismantled. Instead, after public outcry, […]
Jeff Bezos’ $500 Million Mega Yacht Reportedly Sets Sail

You May Like