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Lamps
@Nick_Lamparelli
Kuyashii
Nov 29, 2019 • 17 tweets • 3 min read
The effect of big data, predictive modeling & AI will have a slow arching impact on insurance. It is NOT that these techs aren't valuable. They are! It's more about the incentives and economics of the industry. Let me explain: Right now, the two main KPIs in which we judge underwriting is 1. premium and 2. profits. Premium is immediate, profitability takes time to determine (for some lines...years). Even startups like @Lemonade_Inc measure themselves on these two KPIs. This is insurance economics 101