According to Amwin’s 2024 Property Outlook, the property market was showing signs of softening and a slowdown in the pace of rate increases for most insureds was to be expected. As we move further into Q1, that prediction is ringing true.
Tag: predictive modeling
How AI, Tech Advances Can Help Insurers with Climate-Related Risks
Global economic losses from natural catastrophes hit $380 billion in 2023, with insured losses at $118 billion, according to a new report from Aon. More than two-thirds (67%) of global insured losses occurred in the United States, and “while no event reached the $10 billion mark, there were at least 37 billion-dollar disasters in total,… Continue reading How AI, Tech Advances Can Help Insurers with Climate-Related Risks