NEW YORK--(EON: Enhanced Online News)--Commercial insurers are continuing to aggressively invest in technology across functional areas in order to survive in a highly competitive marketplace, according to a report released by Novarica today. The report, Business and Technology Trends: Commercial Lines, includes data on the marketplace and 40 named examples of recent technology investments by commercial lines insurers, in addition to a review of commercial carriers’ current business and technology priorities by operational area. A free preview of the report is available on Novarica’s website at http://www.novarica.com/b_and_t_commercial_lines_2013/
“While growth is a primary objective, commercial carriers are intent on maintaining underwriting discipline while growing the book. More and more carriers are using predictive analytics and business rules to try to more consistently apply underwriting expertise and make better underwriting/pricing decisions by aligning pricing actions with risk quality”
“While growth is a primary objective, commercial carriers are intent on maintaining underwriting discipline while growing the book. More and more carriers are using predictive analytics and business rules to try to more consistently apply underwriting expertise and make better underwriting/pricing decisions by aligning pricing actions with risk quality,” said Karlyn Carnahan, a principal with Novarica and co-author of the report with Business and Technology Trends series editor Steven Kaye.
The report also includes an overview of the commercial lines marketplace, a summary of the insurer landscape, and a discussion of the top core application issues with examples of projects insurers have recently initiated in each area. Other reports in Novarica’s Business and Technology Trends Series are online at http://www.novarica.com/business_and_tech_trends/.
Novarica also announced today the available of their annual Novarica Market Navigator ™ report on property/casualty policy administration systems, profiling and analyzing offerings from more than 50 vendors, including Accenture, Adaptik, B2-USA, Blue Goose, Camilion, Clear Data Strategies, CodeObjects, CSC, Comtec, Cover-All, DAVID Corp., Decision Research Corp., eBaoTech, ECCA, Echo Ridge, Epic-Premier, Eurobase, Exigen, FAST, First Internet Solutions, Guidewire, Horizon, IDMI, In Motion, Innovation Group, Instec, IDP, Insurance Global Operations, Insuresoft, Insurity, ISCS, IWS, MajescoMastek, Maple Technologies, Maximum Processing, MphasiS-Wyde, Oceanwide, OneShield, Policy Administration Solutions, PCIS, PCMS, SimpleSolve, Solartis, SpeedBuilder Systems, StoneRiver, TCS, Tropics, Unirisx, and Xuber. A free preview of that report is available online at http://www.novarica.com/report_pcpas_13q3_nmn/
Novarica, the research division of Novantas, provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives and project teams. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica draws its knowledge from the professional experience of its principals, the ongoing information gathering initiatives of dedicated research staff, and regular communication with industry sources through informal networks and formal Research Councils of hundreds of senior industry executives. For more information, visit www.novarica.com.