Soteris, Inc.

Have you shut off underwriting for some vehicle makes and models? Vehicle model is just one part of a complex risk profile that includes dozens of characteristics that intersect in a nearly infinite number of ways. In some cases, an insurer’s filed rates may be inadequate for certain models. In other cases, the filed rates may be more than adequate due to other factors present that mitigate the overall risk. The trick is to determine what kind of case you’re dealing with on a policy-level basis. That’s exactly what new technology enables insurers to do. Instead of turning off whole segments, auto insurers can now assess rate adequacy of each individual risk at a policy level. Find out how: #AutoInsurance #FutureofInsurance https://lnkd.in/gAmiG4Sb

Can a personalized risk selection strategy help auto insurers control rising claims severity? Higher claims costs may be the new normal, but there are ways to adapt. #riskselection https://lnkd.in/grNtzUrf

Insurers who avoid high-risk ZIP codes lose out on a lot of business. If multiple insurers avoid the same areas, the community becomes underserved. Insurers that find a way to serve these areas stand to see huge growth – as long as they do so while protecting their bottom line. Thanks to machine learning, insurers can evaluate dozens of risk factors, determine the likelihood of a claim, and determine an individual risks rate adequacy in less than a second. This isn’t a hypothetical scenario for the future. It’s a solution that is available now. Get the details: #RiskSelection https://lnkd.in/gSnCsUTJ

Recent developments have a lot of insurance executives asking, what is deep learning, and more to the point, what does it mean for auto insurance? Here’s a look at how deep learning differs from other types of AI, and why it’s a gamechanger for insurance. #insurtech https://lnkd.in/gv9XWnF3

Are auto insurers ready to shift gears and start focusing on growth? The practices that insurers used to control losses could stifle growth now, but this white paper shows how it’s possible to capture profitable business. #riskselection https://lnkd.in/gEnnyX-F

Consumer perception of AI has evolved significantly in just a couple years – with big implications for companies and the services they deliver. Find out how many people are using generative AI, and trusting AI services, according to new research: #Insurtech #FutureofInsurance https://lnkd.in/gWHcxvkX

Do you consider insurance shopping to be a challenge or an opportunity? Right now, auto insurance customers are looking for better deals. Here’s how you can capitalize on the great migration. #AutoInsurance https://lnkd.in/gT6UFKvu

If new tech could vastly increase your employees’ efficiency, do you think they would willingly adopt it? Sometimes, the answer isn’t logical. This article explains how fear of the unknown can sabotage your technology implementations and shares seven ways insurers can overcome innovation resistance. #Insurtech https://lnkd.in/gfqj6UCp

AM Best has upgraded the U.S. personal auto segment to stable. That’s good news – and now insurers need to be ready to focus on growth. https://lnkd.in/eG9Renkt

Recent years have seen rapid development in insurance AI. What will 2025 bring? In this article, we’ve gathered some eye-opening statistics about AI adoption in insurance and beyond. Check it out and share with your team: #InsuranceAI #FutureofInsurance https://lnkd.in/gnEexXW4