Plug The Leak: Reduce Underwriting Leakage With Better Data

Posted by Ivan P. Maddox on Jun 19, 2018 4:03:34 PM

Not only is insurance an industry that is based on a general inability to predict what is going to happen, it is a hyper-competitive industry in which the winners are those who can best predict the unknowable…or at least be less wrong than their competition. Insurance underwriting is the actual process of pricing what is unknowable, and is necessarily performed with rigorous processes underpinned with vast amounts of data. However, underwriting is never perfect, and the gap between actual underwriting and perfection is called underwriting leakage.

Read More

Topics: Insurance Protection Gap, Risk Management, Insurance Underwriting

The Importance of Good Underwriting

Posted by Ivan P. Maddox on Feb 20, 2018 3:59:54 PM

The past year was a tough one for US cat losses, especially wildfire and flood. Last week we explored just how bad it was, but also just how much opportunity does exist in the US protection gap. The secret to unlocking that opportunity, without undue overexposure, is crisp underwriting.

Read More

Topics: Insurance Protection Gap, Perils, Effective Underwriting

The Protection Gap Quantified

Posted by Ivan P. Maddox on Feb 13, 2018 3:43:19 PM

Last week Insurance Journal ran a recap of the P/C Joint Industry Forum, held last month in NYC. If you underwrite flood or wildfire, go read it now and then come back here for a bit of commentary. If you are a blogger, chances are you have already read it.

Read More

Topics: Insurance Protection Gap, Flood Insurance, Flood Risk, FEMA

Top 3 Blogs of Q4 2017

Posted by Ivan Maddox on Dec 19, 2017 4:11:48 PM

The Risks of Hazard is cruising into the holiday season like all blogs, by piggy-backing on old work. And there is no better way to recycle blogs than to do Top 3 lists! Without any ado at all, here are the top 3 blogs from the last three months.

Read More

Topics: Insurance Protection Gap, Flood Insurance, NFIP

NFIP Reform Passes the House: What Insurers Need to Know

Posted by Devin Ward on Nov 21, 2017 2:57:06 PM

We have conglomerated some news highlights for you today, but first, Happy Thanksgiving!

Read More

Topics: NFIP, Flood Insurance, Insurance Protection Gap

The Risks of Hazard Blog   rss-feed

Welcome to The Risks of Hazard, brought to you by Intermap Technologies®. From the latest industry news and trends, to insight from thought leaders around the globe, stay tuned for a variety of content aimed at helping you better understand the role of location-based intelligence in the world of insurance underwriting and risk assessment.

To see how Intermap delivers analytics tailored to your underwriting, visit our InsitePro page.

Subscribe to the Risks of Hazard blog!