Fast Market Research recommends "2020 Foresight Report: Trends in Non-Life Insurance Underwriting" from Timetric, now available

Boston, MA -- (SBWire) -- 06/10/2013 --The insurance underwriting industry has undergone a paradigm shift over the last decade due to the introduction of new technology, which has revolutionized processes and business practice. Insurance companies are augmenting their processes to maintain a social media presence and also to help combat fraud. With the advent of Solvency II and other risk-based capital (RBC) approaches, underwriting has become increasingly dependent on movements in the regulatory environment. Several natural disasters resulted in substantial losses and an exceptionally high number of fatalities during the review period (2008-2012). Telemetric, predictive analytics, automated software programs and the use of social networking sites has transformed the way in which insurance underwriting operates.

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Key Highlights

- The insurance underwriting industry has undergone a paradigm shift over the last decade due to the introduction of new technology, which has revolutionized processes and business practice.
- Several natural disasters resulted in substantial losses and an exceptionally high number of fatalities during the review period (2008-2012).
- While, mature markets such as the US, the UK, France and Italy are recording stagnant growth, emerging economies are driving premiums.
- The US non-life insurance segment registered the highest underwriting loss in 2012, while, Japan recorded the highest underwriting profit.
- The growth in telematics users in Europe will be driven by the UK and Italy.
- Predictive analytics has revolutionized the world of premiums and claims management in the insurance industry.

Scope

- This report provides a global snapshot of the key performance indicators impacting underwriting including combined ratio, loss ratio and expense ratio and underwriting profit/loss trends
- It studies the impact of regulatory trends on underwriting including Solvency II and EU gender neutral insurance
- It provides detailed analysis of the different underwriting cycles
- It provides detailed analysis of the relationship between economic growth and the insurance industry's growth in key markets
- It provides detailed analysis of the impact of technological trends in underwriting
- It provides detailed analysis of the impact of natural and man-made disasters on underwriting

Reasons to Get This Report

- Make strategic business decisions using detailed assessment of the key challenges and opportunities that non-life insurance underwriting presents currently
- Understand directives of new regulations and the necessary changes required in the current business structure of an underwriting firm
- Assess underwriting profit or loss trends in key markets
- Assess the impact of economic growth on the insurance industry
- Assess the adoption of technology trends in different companies across different geographies

Companies Mentioned in this Report: Teletrac, GeoTab, Teleav, Telogis, Amaguiz, Coverbox, Zurich Financial Services, Progressive Casualty Insurance, Liberty Mutual, Hollard Insurance, Aviva Insurance, Allianz Italy, AA Insurance, Santam Insurance, Nationwide Mutual Insurance Company, Amica Insurance, Integro Insurance, Allstate, GEICO, State Farm

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