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1、1 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONFive Top Trends in Small-Business Workers Compensation The rise of predictive risk analytics and emerging business dynamics in a rapidly evolving marketUNDERWRITINGS NEW REALITIESLEARN MORE ABOUT RISK INSIGHTSGUIDEWI

2、RE HAZARDHUB CASUALTY E-BOOK2 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATION UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONSeeking Growth in a Market Undergoing Seismic ChangeAs weve all discovered by now,the world can change in

3、 the blink of an eye.For an insurance industry already undergoing a period of unprecedented disruption,the blistering business dynamics unleashed by the coronavirus pandemic have introduced a whole new level of uncertaintyespecially for P&C insurers serving the market for small-business workers comp

4、ensation.Today,small professional services firms and enterprising startups are turning what Time magazine has famously described as“the worlds largest work-from-home experiment”into nothing short of the status quo.And an army of frontline workers is adapting to new business models that can sometimes

5、 mean longer hours and tougher working conditions.As Main Street gets ready to reopen for business,new twists await at every turn.But the seeds of change were planted long before anyone had ever heard of COVID-19 or imagined its ripple effects on the economy.In fact,the conditions that have come int

6、o play in recent times havent really changed anything.Instead,they have accelerated existing trends,giving them new urgency.Case in point:the rise in predictive risk analytics,which has already become key to profitable underwriting in the enormous market for small-business workers compensation insur

7、ance.Its just that now,the competitive importance of these technologies has become a make-or-break proposition.Of course,some insurers may decide that the small-business segment is currently just too risky,especially amid conditions that have already seen large numbers of businesses in hospitality,f

8、ood services,construction,and other fields close temporarily or shutter their doors completely.But abandoning this market would be a costly mistakeas well as a gold mine for more-tenacious competitors armed with the right strategies and technologies.23 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN

9、SMALL-BUSINESS WORKERS COMPENSATIONPercentage of US workforce employed by small businessesSource:JPMorgan Chase48%Percentage of US businesses with fewer than 20 employeesSource:JPMorgan Chase88%Percentage of economic output driven by small businessesSource:JPMorgan Chase44%Value of the small-busines

10、s insurance market Source:Insurance Journal2$100BillionThe Keys to an Economic PowerhouseThe fact is,small business is no longer just an important market for workers compensation insurers seeking growth.Its the important market.Even in turbulent economies,small companies employ nearly half of the US

11、 workforce.And those same businesses drive 44%of the US economy,according to JPMorgan Chase.1 They also happen to make up the bulk of all employment in key industries for workers compensation insuranceincluding farming,construction,food services,manufacturing,transportation,warehousing,and more.In s

12、hort,this remains a lucrative segmentat least for insurers that can master its new realities.This e-book examines five key overarching trends that are redefining what it takes to effectively and profitably serve the need for small-business workers compensation in a rapidly evolving marketplace.UNDER

13、WRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONSmall-Business Workers Compensation:The Essential Market Segment1“Small Businesses Are an Anchor of the US Economy,”Institute:Small Business Data Dashboard,JPMorganC,https:/ Jay Bregman,“Why Small Business Liability insuran

14、ce Must Be Advanced into the Digital Age,”Insurance Journal,December 30,2019,https:/ UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONAccurate Risk Assessment Requires More Data SourcesWhether economic uncertainty persists into 2020 and beyond,or is viewed safely in

15、the rearview mirror,the first half of this decade is likely to be unstable by historical standards.At the same time,it will represent an unrivaled opportunity.Even before the economy hit turbulence in the first half of 2020,small business represented a Darwinian challenge to many insurers.Lower prem

16、iums,the high costs associated with underwriting itself,prospecting,and a large percentage of business failures each year have collectively meant that success in this segment requires very high throughput.Fast-forward to the present,and these challenges have only grown more pronounced.Premium renewa

17、ls for workers compensation have been declining,even as those for other commercial lines have seen some growth.Small businesses have also driven the lions share of recent layoffs.During the Great Recession,unemployment remained between 8%and 10%for more than three years.But over the midterm,business

18、 failures pose a far greater threat,according to the National Council on Compensation Insurance.3 Yet not everything is gloom and doom.As the economy adapts to the latest version of the new normal,these factors will increasingly be tempered by innovative new business models and transformative new te

19、chnologies that could radically reshape the small-business landscape and even change the world.Whether economic recovery proves V-shaped,U-shaped,or something more like an L,the entrepreneurial spirit will remain alive,kicking,and looking for opportunitiesincluding many that may have never before ex

20、isted.As society regains its footing,demand for small-commercial workers compensation will grow,perhaps significantly.3 Leonard F.Herk,“Economic Impact of Coronavirus on Workers Compensation,”NCCI,April 17,2020,https:/ UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIO

21、NBut today,accurate risk modeling remains the Achilles heel for many,if not most,insurers.Without access to high-quality,granular data on small businesses,most underwriters are forced to assess risk based on broad statistics and incomplete information that may be questionable,if not wholly irrelevan

22、t.Diving Deeper into a Wider Array of DataTraditionally,underwriters might price workers compensation policies by market.If its a construction company in Utah,you price it for a construction company in Utah,for instance.But this approach is no longer sufficient.Martys Diner and Moes Eatery might loo

23、k exactly the same on paper.Maybe theyre even just a block away from each other,employ roughly the same number of people,and perhaps even opened within the same year.But that may be where the similarities end.Maybe Marty is a better,more safety-conscious manager.Maybe both successfully ramped up hom

24、e delivery during local stay-at-home measures,but one has a 30-minute delivery guarantee within a 5-mile radius.Or maybe one gets 2.5 times more orders on weekends.To find information like this,an underwriter may Google it and check out Yelp,Glassdoor,and maybe a few other sourcesan existing ACORD f

25、orm,for example.But this is all very time intensive,especially when customers want policy decisions in minutes,not days.Its also dependent on incomplete pieces of highly unreliable information.To win in this segment today,underwriters will increasingly need to hone their ability to accurately model

26、risk in smarter ways,in part by gaining access to an expanded universe of unconventional,non-obvious data on individual businesses.In our new reality,location,demographics,crime rates,hiring,pay disparity,employee sentiment,customer satisfaction,and online activities are needed to assemble a holisti

27、c,predictive risk profile on a business.But so are other emerging factorsincluding distance from healthcare services at a time when 50%of small medical practices remain at risk of closing.It could include changes in traffic patterns as a local economy takes on new contours and establishes new job ce

28、nters,employee work habits,or any of literally hundreds of other discrete,continuously evolving data points.Insurers that can harness this kind of data and turn it into actionable insight will be better positioned for growth,while those that cant are likely to fall behind.3 Basics to Brilliant Small

29、-Business Underwriting4High-quality dataBetter use of third-party dataAI and machine learningSource:Accenture#1TREND4 Michael Reilly,Ultimate Guide to Small Commercial Insurance,Accenture,February 12,2019,https:/ UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONRemot

30、e Working Redefines LiabilitiesForgive the expression,but remote working isnt going anywhere.In fact,its a trend that will continue to accelerate.Even before the coronavirus outbreak,more than 42%of all businesses offered a remote work option part-time,while 27%offered it full-time,according to SHRM

31、S.5 Two-thirds have done so due to recent shelter-in-place orders.6 And post-pandemic,Steve King,a partner at small-business consultancy Emergent Research,tells Newsweek there may be no turning back.7 Over the next few years,small businesses in some industrieslegal services,real estate,accounting,ma

32、rketing,technology,call centers,and othersmay rethink expensive outlays for marquee office space,especially during early stages of growth.Some business owners may run their entire operations out of their own homes,with networks of remote employees and contractors.Even those who do maintain official

33、offices will need to have work-at-home options to attract and retain talent as commuters again take to road and rail.But the ascent of remote working also creates a new set of attributes with which small-commercial insurance lines must contend.5 Kerri Anne Renzulli,“The Coronavirus Will Change How W

34、e Work Forever,”Newsweek,March 30,2020,https:/ Olga Khazan,“Work from Home Is Here to Stay,”The Atlantic,May 4,2020,https:/ Renzulli,“The Coronavirus Will Change,”https:/ UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONWhen Home Is Where the Harm IsTake home office

35、ergonomics:If people are responsible for their own office setups and give themselves repetitive stress injuries,industry observers wonder if employers will be liable for those kinds of claims?8 Although it may vary by state and municipality,the answer may very well be yes.In Minnesota,for instance,a

36、 court case several years ago set a precedent when an employee working from home injured himself after going downstairs to grab a cup of coffee.9 In that case,the state Workers Comp Appeals Court extended a doctrine of personal comfort.Generally speaking,this means that you dont stop being eligible

37、for workers compensation because you get up from your desk to go to the bathroom,get a cup of coffee,or take a lunch break while on the joband the same applies whether youre in an office or at home.That same logic may apply to ergonomics.Over the near-to midterm,look for more employees to file claim

38、s citing carpal tunnel syndrome,eye strain,chronic neck and back issues,and other,yet to be defined afflictions.Your Actuarial Models Are ObsoleteWith more employees working from home,a suburban renaissance may be in the offing.Even if some companies set up smaller satellite offices for times when w

39、orkers need them,this shift may bring urban flight back to large city centers.Crime,blight,crumbling public infrastructure,and other hazards may deal a body blow to the risk profiles of small businesses that once thrived in robust urban environments.Bottom line:With more small-business employees wor

40、king remotely in the next few years,insurers will find they require automated scoring tools that leverage a real-time understanding of local dynamics,as well as data that extends all the way to each employees personal dwelling,home office setup,and more.$22,000 Average savings each year per remote w

41、orker for employersSource:Global Workplace Analytics10 74%The percentage of companies planning to permanently shift to more remote working following COVID-19Source:Gartner11 13%Percentage of companies that have already cut real estate expenses,with another 9%currently planning cutsSource:Gartner12 8

42、 Dianna Dilworth,“Coronavirus Promises Big Changes for Small Business Insurance,”Digital Insurance,March 30,2020,https:/www.dig- Sharon Yoo,“Some of Your Work from Home Questions Answered,”KARE 11 News,May 14,2020,https:/ Larry Dignan,“CFOs Looking to Make Remote Work,Telecommuting More Permanent Fo

43、llowing COVID-19,Says Gartner Survey,”ZDNet,April 6,2020,https:/ Work-at-Home/Telecommuting/Mobile Work/Remote Work Statistics,”Global Workforce Analytics, Dignan,“CFOs Looking to Make Remote Work,Telecommuting More Permanent,”https:/ UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WOR

44、KERS COMPENSATIONEvolving Customer Behavior Creates a New Risk Calculus With any luck,an effective coronavirus treatment or vaccine is just around the corner or has already been approved for use by the time you read this e-book.Even so,its likely that contact tracing,small-scale quarantines,and inte

45、rmittent lockdowns may shape our everyday lives for at least the next few years.Consider,for instance,that vaccines take 10 years on average to develop,mass produce,and widely distribute.And this has never been accomplished in under four years.13 Whether current dynamics last for just a few months,o

46、r a few years,important questions arise:What if customer behaviors sparked by these realities become so ingrained that small retailers,restaurants,and other services find sustained demand for curbside pickup,home delivery,and other low-or no-touch business models?Here again,its a case of pre-existin

47、g trends accelerating.Buy Online,Pickup in Store(or BOPIS,in industry parlance)grew 50%in 201914 and was considered critically important to 61%of consumers.Not surprisingly,given the circumstances,BOPIS had transitioned to curbside pickup and grown nearly 200%by mid-2020.15 Together with what well c

48、all BOD(Buy Online,Deliver Door-to-Door),BOPIS will come to define small business for years to come,if not forever.In the eyes of Shopify,Yelp,and other tech companies that are rolling out BOPIS solutions for small and medium-sized businesses,not only does this enable a sea of local Davids to capita

49、lize on the familiar,face-to-face experience theyve always cultivated,but it may also be required to compete against big-box retailers,chain restaurants,and other Goliaths with the capital to easily implement these and other survival measures.16 13 Stewart A.Thompson,“How Long Will a Vaccine Really

50、Take,”New York Times,April 30,2020,https:/ Sarah Cavill,“What Marketers Need to Know about BOPIS,the Latest Buzzword in Online Shopping,”Digital Marketing News,August 8,2019,https:/ Digital Economy Index Shows US Ecommerce Sales Up 49%in April,”Newswire,May 12,2020,https:/ Greg Sterling,“Shopify Lau

51、nches Post-COVID POS,Yelp Rolls Out Omnichannel Tools for SMBs,”SearchEngineLand,May 4,2020,https:/ Aamer Baig,Bryce Hall,Paul Jenkins,Erick Lamarre,and Brian McCarthy,“The COVID-19 Recovery Will Be Digital,”McKinsey,May 14,2020,https:/ total number of years adoption of digital channels to purchase

52、insurance advanced in just 8 weeks of US sheltering-in-place ordersSource:McKinsey17 5 Years9 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONNew Winners and LosersThere are a number of implications for these developments.For one thing,the likelihood of business fai

53、lure rates may fluctuate before settling into new patterns.According to McKinsey,gas stations,car dealerships,taxi and transport,health clubs,hospitality,travel and touring companies,and others may see demand soften,even as some semblance of what we might have once called“normalcy”returns.18 At the

54、same time,low-and no-touch shopping,entertainment,and dining options are expected to rise.But businesses themselves may have issues all their own,including supply-chain disruptions that may not be shared by competitors.Changing Roles,Responsibilitiesand ExposureAs a result of these changes,employee

55、roles could change dramatically,introducing new liability exposure in the process.Stockroom workers and cashiers who once manned the checkout line will increasingly become runners for online purchases,risking harm as they haul purchases out for curbside pickup or hit the road to make a home delivery

56、.Whats more,as businesses recalibrate expenses to account for changes in revenue,staffs made up of fewer workers may find themselves working harder,increasing the likelihood of on-the-job injuries.Until we reach a truly post-pandemic world,all of this will be further complicated by new insurance rul

57、es that are likely to be enacted by states in the next few years.#3TREND18 Consumer Sentiment Evolves as the Next Normal Approaches,McKinsey&Company,May 12,2020,https:/ Jim Sams,“Regulators and Lawmakers Introducing Workers Comp to COVID-19,”Claims Journal,April 20,2020,https:/ Aaron Colby,“The Work

58、place and COVID-19:Workers Compensation to the Rescue?”Forbes,May 13,2020,https:/ Alexandra Pastore,“Reports Predict Consumer Behavior in a Post-COVID-19 World,”WWD,April 20,2020,https:/ and state regulators in Washington,Michigan,Florida,and other states have issued executive orders or amended rule

59、s to expand eligibility for workers compensation.19 In California,an executive order from Governor Gavin Newsom changes all existing workers compensation policies so that COVID-19-related illnesses suffered by employees who work outside the home are presumed to have been contracted on the job.20 Whi

60、le that and similar rules are defined as temporary,they may be extended,or reinstated,at any time.Its Not(Just)the Claims;Its the Operating ConditionsHere again,the challenge to insurers isnt just in growing numbers of claims.In Californias case,insurers are allowed to increase premiums to compensat

61、e for higher payouts,and employees are barred by filing civil lawsuits against employers for the illness,for example.But these kinds of rules may have other consequences.Namely,insurers may be forced to price their policies beyond what the market can bear.It may also cause some small businesses to d

62、efer bringing back employeesor incentivize them to keep total headcount to a minimum.In turn,this increases workload for the people they do employ,further boosting the chances of injuries of every kind.Predictions of Consumer Behavior Post-COVID-19 Percentage of consumers who say they are more likel

63、y to order takeout over dining in-restaurantSource:Harris Polls2165%85%72%Percentage of consumers who say they plan to continue exercising at home instead of the gymSource:Harris Polls22Percentage of consumers who plan to do more shopping online to ship directly to their homesSource:Harris Polls2310

64、 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONChanges to the Workforce Increase Employment Hazards Another consequence of current dynamics is likely to be a substantive change in the demographic makeup of the small-business workforce.Amid mass layoffs and record

65、levels of unemployment sparked by a recession expected to last well into 2021,24 workers age 50-plus have been hit especially hard.25 In the next few years,many may face a whole new level of age discrimination due to a number of factors,including their heightened vulnerability to COVID-19 relative t

66、o younger workers should the disease resurface.Meanwhile,others in this age group may leave higher-risk jobs of their own volition for the very same reason.For small businesses,this could dampen institutional memory or an organizations herd mentality against certain workplace dangers.With fewer expe

67、rienced hands on deck,newer,more accident-prone workers come aboard,posing new dangers.The most dramatic impact may be felt in construction,warehousing,transportation,and other important segments of the small-business market for workers compensation insurance.ursuing the Perfect Ratio Because of all

68、 this,small-commercial lines will need the capability to factor the ratio of longtime to newer workers,or even just length of time on the job,when prospecting or renewing policies.While broader statistics will shed at least some light on risks by industry and by geographic region,insurers will also

69、need to assess a specific businesss documented onboarding processes,adherence to best practices,and more.#4TREND24 Hugh Son,“Morgan Stanley CEO James Gorman Sees Coronavirus-Induced Recession Lasting Through All of 2021,”CNBC,April 16,2020,https:/ Ramsey L.Alwin and Jen Shramm,“Coronavirus Devastati

70、ng Economic Impact on Workers Age 50-Plus,”AARP,April 3,2020,https:/www.aarp.org/politics-society/advocacy/info-2020/coronavirus-economic-impact-older-workers.html.11 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONThe Need for Greater GranularityJobsite dangers may

71、 not be the only thing insurers must take into account in their actuarial models.Small-business owners in healthcare,technology,and other professional services may fall victim to these very same issues.For example,if fears about sick leave result in an architectural firm or a consultancy hiring or r

72、etaining fewer workers age 50-plus,its competitive expertise may suffer while its legal liabilities go upincreasing the chances of business failure.Conversely,if the track record for successful firms founded by people age 45-plus in recent years is any indication,insurers may find small businesses l

73、aunched by workers in this same age group could be especially safe bets.Either way,with fewer obvious risk signals related to workforce demographics,at least compared to more blue-collar industries,insurers will need to analyze specific businesses by characteristics that include market reputation th

74、rough reviews,social media sentiment,news coverage,active thought leadership,industry awards,and even the owners politics and other non-obviousand often hard to leveragecharacteristics.#4TREND12 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONDigital Underwriting Su

75、ccess Will Be Driven by Quality and ScaleThe common through line in the trends that weve discussed thus far is that they all reinforce the first.In a post-pandemic world,accessing and understanding a soaring number of risk variables is critical to successfully serving the small-business market for w

76、orkers compensation.As brilliant as they may be,actuaries crunching complex sets of numbers to rate risk and inform policy decisions can only take you so far.The same is true of automated tools with access to limited,dated,or inaccurate data sources.But with the right data in hand,insurers can price

77、 policies that more accurately reflect the risk posed by a specific business,rather than by overly broad risk classifications.As KPMG puts it,“Data is not simply the facilitator for better underwriting and keener pricing,but is the very DNA of the 21st-century connected organization.”26 Capitalizing

78、 on data at internet scale requires the adoption of modern machine learning and AI capable of assessing several hundred discrete business characteristics on demand.But fair warning:Organizations sourcing and integrating solutions with their existing workflows will need to ignore marketing hype about

79、 new,cutting-edge technologies specifically designed for the new normal.Instead,they must prioritize solutions with proven track records in helping insurers harness the power of big data,AI,machine learning,and behavioral analysis to enable dynamic modeling that reflects,and even anticipates,true ri

80、sk.Putting the Right Pieces in Play#5TREND26 “Data Is the New Oiland the Price Is Going Up,”KPMG,https:/home.kpmg/xx/en/home/insights/2019/02/insurtech-10-data-is-the-new-oil-fs.html.13 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONTo that end,its important to und

81、erstand that the success of AI-and machine learning-based technologies are dependent on three things:The scale and accuracy of the networked data sources it draws from Machine-learning algorithms that are trained,tested,and continuously refined by top domain experts in underwriting and AI APIs that

82、provide seamless access to data within arms reachNone of this is unrealistic,pie-in-the-sky fluff.This kind of rich,accurate,near-real-time risk profiling is leveraged daily for everything from market segmentation,to submission and risk assessment,to pricing,to policy services,to renewal,and more.An

83、d it has been successfully enabling insurers to take a more volume-based business approach to underwriting,turn quotes around faster,and profitably serve this market.Enabling New Lines While Fueling Better IntelligenceDelivering the personalized insurance shopping and renewal experience todays small

84、 businesses demand is just the beginning.These same technologies will prove central to deploying compelling new services using telematics,chatbots,drones,IoT,and more.In turn,these sources will all add to an exploding universe of data that insurers can leverage for predictive modelingcreating a virt

85、uous cycle for better,smarter risk-decisioning.#5TREND“Data is not simply the facilitator for better underwriting and keener pricing,but is the very DNA of the 21st-century connected organization.”Source:KPMG 14 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONChange

86、 Leads to OpportunityIn light of the trends discussed in this e-book,its hardly outrageous for underwriters to circle back to that most pertinent of questions:Is small business still a compelling segment to serve?The answer is yesonly more so.In the next four to five years,growth will be fueled by p

87、ent-up demand,whole new customer needs and expectations,and continued federal stimulus.And even then,it will come in fits,starts,and setbacks.Yet whatever tomorrow brings,one thing is clear:The usefulness of broad,incomplete data and limited analytics capabilities was minimal before crisis struck.It

88、 has only been nullified since.Instead,predictive risk analytics has only strengthened its role as a game changer for underwriters seeking to profitably serve the market for small-business workers compensation.Insurers that leverage these technologies will find them to be indispensable amid the trem

89、endous changeand unprecedented opportunityahead.UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATION1415 UNDERWRITINGS NEW REALITIES:FIVE TOP TRENDS IN SMALL-BUSINESS WORKERS COMPENSATIONPrediction:Success How HazardHub Casualty Can HelpGuidewire Live HazardHub Casualty

90、 is a proven solution for leveraging highly accurate,internet-scale data collection and sophisticated risk modeling to score risk for any small business quickly,easily,and on demand.Just enter the name and address of any business,and our data listening engine accesses data across public,private,and

91、proprietary sourcesincluding demographics,crime rates,hiring,pay disparity,employee sentiment,news coverage,customer satisfaction,social media sentiment,proximity to fire departments,healthcare,industry reputation,online activities,and more than 700 other relevant data points.It then applies advance

92、d behavioral analytics and modern machine learning to assemble a holistic,predictive risk profile for that businesswithin two minutes.And since outputs are available through your REST API in near-real time,its easy to plug this analysis into actuarial models and workflows at any point in the underwr

93、iting process.In fact,this is the only solution that offers:Internet scale:Comprehensive risk intelligence draws from the industrys largest and most accurate and reliable collection of public,private,and proprietary data,often from non-obvious sources.Top expertise:Because AI and machine learning ar

94、e only as good as the expertise that directs it,our algorithms are continuously trained,tested,and refined by the industrys top experts in underwriting and risk analytics.Proven performance:The analytics platform that underpins our workers compensation solution is the same field-tested,market-proven

95、 platform used by insurers serving the enterprise market.With their rich,contextual view of any small business at your fingertips,our risk scoring tools can be leveraged for everything from market segmentation,to submission and risk assessment,to pricing to policy services,to renewal.This means your

96、e able to take a more volume-based business approach,turn quotes around faster,and profitably serve this market at the speed of change.See Just How Easy It Is to Join the Guidewire RevolutionHAZARDHUB CASUALTY Up to 3%Reductions in loss ratios achieved with HazardHub Casualty15Guidewire is the platf

97、orm P&C insurers trust to engage,innovate,and grow efficiently.We combine digital,core,analytics,and AI to deliver our platform as a cloud service.More than 450 insurers,from new ventures to the largest and most complex in the world,run on Guidewire.As a partner to our customers,we continually evolv

98、e to enable their success.We are proud of our unparalleled implementation track record,with 1,000+successful projects,supported by the largest R&D team and partner ecosystem in the industry.Our marketplace provides hundreds of applications that accelerate integration,localization,and innovation.For more information,please visit and follow us on twitter:Guidewire_PandC.2022 Guidewire Software,Inc.For more information about Guidewires trademarks,visit http:/ Published:2022-01-19