Interactive
How Big Data is Changing Workers Compensation
Academy of Insurance
Updated Nov 30, 2020Insurance agents are increasingly confused and frustrated by the pricing they are seeing on their workers’ compensation new business quotes and renewals. Have you seen a client’s experience modification factor go down, and the pricing either remain the same or go up? Or, has the inverse occurred? Has an insurance company refused to quote or renew an account even though the account has been profitable over the past 5 years and the experience mod has trended downward? If so, welcome to the world of data analytics and predictive analytics. Predictive modeling is here to stay, so agents must adapt.
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