A.M. BestTV: European Insurers Struggle to Grow Faster, Says A.M. Best Director
Although growth remains important to European non-life insurers,
“Overall, growth in gross written premiums is in the low single digits in each of the five major markets of the
“Companies on the front end have advances in digital products and computers,” he said. “On the underwriting side, with the use of big data and sophisticated analytical techniques, there have been enhancements to the underwriting approach in their selection of risk, and on the back end, with regards to claims management, the use of artificial intelligence and robots are increasing, which effectively reduces costs for insurance companies.”
To access a copy of this market segment report, titled, “European Insurers’ Focus on Profitability Overrides Desire to Grow Top-Line,” visit http://www3.ambest.com/bestweek/purchase.asp?record_code=277447.
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