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Big data impacting insurance underwriting

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Ryan T. Fulmer

Ryan T. Fulmer

When you think of insurance you probably think of Geico’s Gecko or Progressive Insurance’s Flo. Your investment portfolio likely owns one, or many, insurance companies. A few companies that might sound familiar include Cincinnati Financial, Chubb Insurance, Travelers Insurance and Met Life.

When you think of insurance you probably think of Geico’s Gecko or Progressive Insurance’s Flo. Your investment portfolio likely owns one or many insurance companies. A few companies that may sound familiar include Cincinnati Financial, Chubb Insurance, Travelers Insurance, and Met Life.

There are two broad categories of insurance companies. Property and casualty insurance will reimburse you for losses from a car accident or when your house burns down. These policies also include liability coverage for damages to other people and their property that is caused by you. It is likely you also own life insurance, which insures unexpected mortality risk and usually pays the benefit to your spouse or children when you die.

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