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Revolutionary Times in Auto Insurance Pricing

Marty Ellingsworth – For years, auto insurers have used crude miles driven classification schemes in their premium calculations. The logic of crude schemes presumably lay in the difficulties of verification: Carriers didn’t want to spend money on audits and could not fully trust self-reports. This situation is in the process of changing drastically. Technological change […]


MVP: Most Valuable Project

Marty Ellingsworth – Great news: You got some of that big data stuff, so now you’re a most valuable player in the majors, right? Not exactly and not yet. The issue is what you do with voluminous data. Owning a modern Louisville Slugger is no guarantee of making it to first base. It’s how you […]


Predictive Analytics: Chase Results, Not Unicorns

The secret to effective analytics is to apply it as a process, not a project. That essential strategic nuance gives hope to industry laggards while making the leaders look over their shoulders. Simply put, anyone can adopt a well-understood process, assuming executive commitment, strong communication, and diligent change management. However, if you believe analytics is a project that can make everything better, you’ll wind up chasing unicorns.


Predicting Bionic Growth

Back in the early ‘70s, the fictional application of a technology called bionics created a pop culture icon in the form of The Six Million Dollar Man. The main character in this TV program went from near death to “better than he was before. Better. Stronger. Faster.” The technology that made him remarkable extended his sight, increased his reach, and provided more lift than any other human being ever. But here’s the point: If each of three people had only one bionic advantage, the story would have been far less effective than one character possessing all three capabilities simultaneously. Like The Six Million Dollar Man, some carriers today have implemented many operational and technology improvements over the years and now have iconic brands built around vigorous performance in growth and profitability.

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