Making Predictive Modeling Work for Small Commercial Insurance Risk Assessment
Best Practices to Improve Business Outcomes
While predictive modeling has proven to be an invaluable risk assessment tool in personal lines, adoption within commercial lines is not as pervasive. Why? Often carriers lack the appropriate resources to build this capacity and/or they do not understand where to begin in applying a predictive model.
White Paper:
When an insurance carrier hesitates to integrate predictive modeling into the business, it’s usually because of either a lack of resources or a lack of understanding about how to build an effective model.
But integrating predictive modeling into small commercial insurance is easier than many might think. Whether carriers choose to enlist the help of a solution provider or build a predictive model themselves from scratch, following a few best practices can make all the difference in achieving a successful outcome when using predictive models for risk assessment.
