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Read More For insurers, inaccurate claim reserves can lead to staggering loss ratios and insolvency concerns. With funds being allocated to these reserves before there is any report of a potential loss, the margin for error can be catastrophic. According to McKinsey, there was approximately a $30…
Read More Quantifying potential risks in future customers, clients, policies, and premiums can oftentimes feel like a gamble for financial service and insurance companies. In 2021 the insurance industry experienced a $3.8 billion net underwriting loss in property and casualty claims alone, and an 11% increase in…
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