Business and Technology Trends, 2023: Commercial Lines

Insurers are using technology, increasingly including AI, to improve claims outcomes, augment customer satisfaction, and optimize risk selection and pricing.

Commercial lines insurers continue to raise rates, seek growth through expanded geographic areas and new products, and adopt analytics more broadly. Insurers want to drive down the cost of service, refine pricing and underwriting, and pursue growth.

This report, part of a series on key business and technology trends in specific lines of business in the U.S. insurance industry, provides an overview of commercial lines insurer business and technology issues, data about the marketplace, and examples of recent insurer technology investments. It is based on the expertise of Datos Insights’ staff, conversations with Datos Insights clients and Insurance Technology Research Council members, and a review of secondary published sources.

Clients of Datos Insights’ Property & Casualty service can download this report.

This report mentions AIG, Akur8, Allianz X, Amazon, Ambac Financial Group Inc., American Lease Insurance Agency Corporation, American National, Amerisure, Arbella, Assurant Inc., AUL Corp, Aureus Tech Systems, AXIS Digital Ventures, Billy, Bold Penguin, Canal Insurance, Capacity Marine Corporation, Capital Insurance Group, Chubb, CLARA Analytics, ClearPath Mutual Insurance Company, CNA, Co-operative Insurance Companies, Cognizant, Columbia Insurance Group, COUNTRY Financial, CRC Insurance, Dai-ichi Life Holdings Inc., Dais, Donegal Insurance Group, Duck Creek, EMC Insurance, Encova, FCCI Insurance Group, Federato, Gradient AI, Guidewire, Harborway Insurance, Hi Marley, Harford Mutual Insurance Group, Hiscox, ISO, Liberty Mutual, Marsh, Mitiga Solutions, MS&AD Insurance Group Holdings Inc., MSIG Holdings (USA) Inc., Nationwide, Nationwide Ventures, Next Insurance, Obie, One Inc., Penn National, Pie Insurance, Praedicat, Protective Insurance (Progressive), Protective Life Corporation, QBE North America, Sapiens, Sompo International, Spinnaker Insurance Co., Swiss Re Corporate Solutions, Tokio Marine Future Fund, Transverse Insurance Group LLC, Travelers, UFG, Vantage Risk, West Bend Mutual Insurance, White Mountains Insurance Group, Zurich, and Zurich North America.

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