During this session, we will explore the nuanced shifts in the personal lines and commercial lines insurance sectors in the context of recent economic developments. For personal lines, we will analyze how economic fluctuations have influenced profitability, focusing on higher-than-usual loss costs and consumers’ evolving shopping behaviors. We’ll examine the changes in risk factors such as severe accidents and demographic shifts and how these have affected consumer profiles and behaviors. On the commercial side, we will explore the implications of digital transformation and market dynamics on the industry’s profitability. We will discuss how inflation and evolving pricing segmentation have impacted the commercial insurance market. This segment will also cover how insurers can leverage advanced modeling techniques and data, including credit data and driving history, to optimize risk assessment and create more effective rating plans. The session will use TransUnion’s extensive data and analytics to provide actionable insights that can demonstrate how personal and commercial insurers can adapt to these market changes. The goal is to empower insurers to navigate the complexities of the current economic landscape and uncover opportunities for sustainable growth and improved profitability.

Speakers

Patrick Foy

Senior Director, Strategic Planning

TransUnion LLC

Webinar Details

Date

Oct 29, 2024

Time

2:00 pm - 3:00 pm

Topic

  • Commercial Insurance
  • Personal Lines
  • Underwriting

Points of Contact
Kim Bates
Kim Bates
Member Concierge