Insurance Rating Variables: What They Are and Why They Matter

July 24, 2019

It sounds simple: an insurance premium is how much it costs to provide insurance coverage. But figuring out what that cost should be is actually quite complicated — so complicated that insurance companies employ entire actuarial departments to do just that. A lot goes into how actuaries determine the cost of risk, and rating variables are a crucial component in that process.

Spotlight

esure

Founded in 2000, esure Group plc is an efficient, customer focused personal lines insurer. We are one of the UK’s leading providers of Motor and Home insurance products through the esure and Sheilas’ Wheels brands. Our insurance brands provide cover for around 2.6 million customers and over 1.9 million car customers, making us a major player in the UK market.

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Why Does My Insurance Go Up?

Infographic | February 4, 2020

Do you know the difference between a Hard Insurance Market vs a Soft Insurance Market and the impact it has on your insurance rates? Check out the info-graphic below explaining the difference between the two. Soft insurance markets tend to lead to good conditions for buying insurance, while hard markets tend to lead to the opposite or bad conditions for buying insurance, IE higher costs. What market are we currently in you ask? In short, we are currently in a soft insurance market that is beginning to harden.

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Interesting cyberattacks of 2019 that all reinsures Should Know About

Infographic | January 23, 2020

With the number of cyber-attacks on the rise, it’s natural to think that this increase of cyber-attacks is due to new actors and technological developments, said Yakir Golan, the CEO of Kovrr, the Tel Aviv-based provider of predictive cyber risk modeling solutions. “The truth of the matter is, cyber attacks are very often a modified version of an old attack. Whether it’s the same attack vector, same tools or the same vulnerability with a new exploitation, similar types of attacks, methods and techniques are likely to reappear in the near future and re/insurers should be prepared and on the lookout for how they can affect their portfolios,” added Golan.

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An insurance agent’s ultimate LinkedIn guide

Infographic | December 10, 2019

Insurance agent, is your LinkedIn profile complete? According to them, only half of users have a completely finished profile. Those who DO have a complete profile are 40 times more likely to receive opportunities through LinkedIn. That’s why we’re passing along this insurance agent’s ultimate LinkedIn guide. It’s a checklist in the form of an infographic, easy to follow and use, to get you up to speed.

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10 PA Auto Insurance Tips

Infographic | January 4, 2020

Handling different types of auto insurance can be confusing. We have simple things every driver should know about insurance in an easy-to-read format.

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Why Invest in Customer Care in Your Insurance Business

Infographic | March 6, 2020

Companies choose to outsource some of their business processes as it helps reduce operational costs. The outsourcing industry also created thousands of jobs to help people. In fact, a huge percent of the working class is working on various BPO companies around the world. If it has pros, it also has its fair share of cons which business owners can avoid if they take effort in choosing the right service provider.

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Insurance Marketing Statistics, You Should Know to Begin!

Infographic | June 7, 2022

These statistics reveal how other insurance marketers are approaching the prospect of a successful business sphere. Consumers’ Journey Begins With an Online Search: 69% of insurance customers conduct research before making an appointment with a business, Over 50% of insurance customers conduct their research on mobile devices and 68% of consumers remain ignorant of businesses based on their requirements. This lets insurers convert such indecisive customers through relevant marketing campaigns

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Spotlight

esure

Founded in 2000, esure Group plc is an efficient, customer focused personal lines insurer. We are one of the UK’s leading providers of Motor and Home insurance products through the esure and Sheilas’ Wheels brands. Our insurance brands provide cover for around 2.6 million customers and over 1.9 million car customers, making us a major player in the UK market.

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