A Predict & Prevent Approach Works When Tech Innovation, Underwriting and Risk Management Work Together

Unlocking the full potential of Predict & Prevent strategies takes teamwork. We need insurers, tech innovators, policymakers, customers and others working together to create, test and launch solutions that stop losses in their tracks. It’s an exciting idea, but how do we make it happen?

Here are my thoughts.

First off, the role of technology innovators is crucial. There is an abundance of insurance technology increasingly capable of analyzing, identifying and quantifying risk in real time. But so far, the primary focus has been on using this data to enhance the efficiency of underwriting and claims.

It’s time to direct these efforts to also include Predict & Prevent strategies.