Bob Gaydos // June 2, 2023
(Image credit: Shutterstock.)
The insurance industry relies on accurate underwriting to remain profitable, and underwriters have always relied on data to do their jobs. This has been true ever since the first insurance policy was written and with the rise of big data underwriters now have access to more data than ever before. However, to my mind at least, the end result of this data explosion has been something of a mixed bag.
On the one hand, underwriters now have more data for evaluating and pricing policies. On the other hand,