chrisbuer, Author at Pro Global - Page 2 of 6

As insurers and MGAs embrace automation, AI, and digital transformation, one thing remains constant: the need for skilled people.

Whether it’s a fast-growing MGA scaling into new markets or an insurer managing regulatory change, tactical resourcing offers more than temporary relief. It provides access to professionals who bring multi-system fluency, operational insight, and the ability to hit the ground running. At its best, it’s not just about filling gaps, but enhancing processes, embedding best practice, and strengthening long-term resilience. 

Too often, tactical resourcing is seen as a transactional exercise. But the reality is different: when deployed strategically, it becomes a pathway to deeper operational improvements. Independent experts can highlight inefficiencies, support digital integration, and help internal teams level up. In many cases, what starts as a short-term engagement becomes a trusted partnership that supports business evolution. 

As the industry modernises, so must its approach to people. Tactical resourcing should be part of any insurer’s strategic toolkit—combining flexibility with deep expertise, and enabling technology to do more while human talent focuses on what matters most. 

Further reading: https://www.europeanfinancialreview.com/beyond-body-shopping-the-evolving-role-of-tactical-resourcing-in-insurance/ 

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Name: Shayne Caple
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Italy’s insurance market is evolving rapidly, with a notable surge in demand for robust audit and advisory services. This shift is driven by regulatory scrutiny, risk management needs, and the increasing complexity of delegated authority arrangements. 

Recent data from IVASS (Institute for the Supervision of Insurance) underscores the growing significance of general and medical liability insurance in Italy. In 2023, premiums in the general liability segment reached €4.018 billion, marking a 7.1% year-on-year increase (the technical account result was €1.133 billion, reflecting a 17% increase compared to the previous year). Meanwhile, the medical liability sector saw premiums totalling €706 million, with €566 million under IVASS supervision.  

In general liability insurance, the average cost of claims is €7,065, influenced by reserved costs due to the slow settlement process. In medical liability insurance, the average cost of claims is significantly higher, ranging between €52,000 and €64,000 for claims older than three years at the end of 2023. These figures highlight the expanding scale and complexity of the Italian insurance landscape. As the market grows and becomes more intricate, the potential risks and challenges also increase, thereby reinforcing the need for rigorous oversight to ensure stability and protect stakeholders. 

Addressing Delegated Authority Challenges 

With this growth comes an increasing reliance on delegated authority models, where Italian insurers entrust underwriting and claims functions to MGAs, coverholders, and third-party administrators (TPAs). While this enhances operational efficiency, it also necessitates meticulous governance to ensure compliance, risk management, and performance optimisation. 

Pro Global’s audit and advisory services play a pivotal role in supporting insurers across Italy and Europe, ensuring that delegated arrangements align with regulatory standards and best practices. Our expertise spans: 

  • Financial Oversight: Monitoring financial transactions to detect inefficiencies and reduce misallocations. 
  • Compliance and Regulatory Assurance: Helping insurers meet evolving EU and Italian regulations. 
  • Risk Management: Identifying and mitigating exposures within delegated authority structures. 
  • Underwriting and Claims Quality Control: Ensuring adherence to delegated authority mandates, including accurate and timely data reporting. 
  • Governance and Accountability: Enhancing transparency and reinforcing market confidence. 

As a Lloyd’s-approved auditor with a verifiable track record, Pro Global brings world-class audit capabilities to Italy’s insurance market. Our established UK audit practice is recognised for its excellence, providing Italian insurers with a trusted partner to navigate the complexities of delegated authority arrangements.  

Meeting the Market’s Needs 

The increasing premium volumes and evolving risk landscape in Italy highlight the necessity for structured audit and advisory services. By ensuring robust oversight, we empower insurers to maintain control, optimise performance, and meet their regulatory obligations with confidence.  

As the demand for delegated authority audits continues to rise, Pro Global remains committed to delivering excellence, providing the support that our clients need to remain compliant, resilient, and well-positioned for future success. 

Click here to find out more about our services in Italy

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Name: Francesco Rastrelli
Job title: Senior Auditor

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The rise of low-code development is transforming the way businesses operate. With the global low-code development market projected to reach $388.6 billion by 2030, organisations are increasingly leveraging these technologies to accelerate innovation, streamline processes, and empower employees. At Pro Global, we have embraced Microsoft Power Platform to enhance operational efficiency, drive automation, and enable data-driven decision-making. We caught up with Toby Fennemore, Solution Architect, to find out why.  

Q: How is Pro Global leveraging low-code technology to enhance operational efficiency?

Toby Fennemore: “In our experience, Microsoft Power Platform brings together four best-in-class services – Power BI, Power Apps, Power Automate, and Power Pages – into a seamless ecosystem. This integration enables Pro Global to:

  • Maintain a single source of truth – Unifying data across systems ensures accuracy and governance, reducing reliance on fragmented third-party solutions.
  • Enhance operational efficiency – Streamlining data collection and reporting leads to faster insights and improved decision-making.
  • Enable business-led development – Low-code tools empower non-specialist business users to contribute to app development, fostering agility and collaboration.
  • Automate and simplify processes – Power Automate eliminates repetitive tasks, accelerating workflows without the need for complex, resource-intensive coding.”

Q: How does Power Platform’s integration with Microsoft’s ecosystem provide additional advantages?

Toby Fennemore: “As many businesses, including Pro Global, already operate within the Microsoft ecosystem, Power Platform offers native integration with tools like Microsoft Copilot and Azure services. This reduces the need for expensive third-party solutions and minimises lengthy system integrations.

Additionally, integrating Power Platform within an organisation’s existing Microsoft infrastructure ensures that information security and cybersecurity policies are enforced without requiring separate governance frameworks. This results in fewer daily management concerns and greater operational security.”

Q: What impact does low-code development have on agility and collaboration?

Toby Fennemore: “Low-code development democratises the software development process, allowing business users to actively shape solutions without deep technical expertise. By reducing reliance on specialised developers, the development cycle becomes more agile, enabling rapid response to business needs and market changes.

Furthermore, the Power Platform fosters cross-functional collaboration. With Power BI for reporting, SharePoint for business-as-usual operations, and Power Apps/Automate for development, teams can work more seamlessly without the friction of complex integrations.”

Thinking Low, Aiming High

Toby Fennemore: “The ability to automate, integrate, and adapt quickly to industry demands ensures that we remain at the forefront of digital transformation. Agility is key, and leveraging low-code solutions like Power Platform is helping us provide leading re/insurers with the efficiencies they need to generate a competitive advantage. For me, it’s all about moving swiftly and smartly, not reinventing the wheel each time, but knowing that we have a robust and secure platform to hand to allow us to pivot tactics as and when needed.”

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London, 7th April 2025

Pro Global (“Pro”), a leading trusted advisor for the specialist insurance sector, is pleased to announce the appointments of experienced (re)insurance professionals Roman Hannig as Head of Client Engagement, Germany, and Oliver Schippa as Head of Product, Germany. These key hires reflect Pro Global’s ongoing commitment to expansion and client service excellence in the German market. 

As an experienced lawyer and complex claims specialist, Roman joins Pro Global Germany from Gen Re Corp and will support and expand Pro’s leading (re)insurance clients’ relationships across Germany with the management of complex employee disability claims. With extensive experience in client relations of premium insurers and a deep understanding of market dynamics, Roman has consistently fostered strong partnerships. 

Previously Sales and Business Development Manager at Proventum, Oliver brings a wealth of expertise in technology, data analysis, insurance product innovation, underwriting, and risk management, strengthening Pro Global’s offering in product development and optimisation. Both Roman and Oliver will be based in Pro Global’s Cologne office. 

Pro has been operating in Germany for many years, with offices in Cologne and Unna. Roman and Oliver join the growing team of local experts who understand both the regulatory landscape and the specialist insurance policies unique to the German market. 

Roman Hannig, Head of Client Engagement, Pro Global Germany, said: 

“I am thrilled to be joining the experts at Pro at such an exciting point in the team’s growth and development. The business is strengthening its presence in the German market, where it already has a well-established reputation for excellence. In a digital-first world, firms must keep pace with innovation. As the new Head of Client Engagement, I am committed to leveraging our expert research and data-driven insights to support (re)insurers in efficiently managing complex disability employer liability claims. Our goal is to help domestic and international insurers, both existing and new clients, operating in Germany be as efficient, fair, and compliant as possible. 

By facilitating more seamless communication, flexible workflows, and automation where it adds value, I aim to free up staff resources for leading re/insurers, ensuring a stronger, more transparent claims process that benefits both insurers and policyholders.” 

Oliver Schippa, Head of Product and User Experience, Pro Global Germany, said: 

“I am delighted to join the growing and successful Pro Global team in Germany. The market environment in occupational disability insurance is constantly and rapidly changing, creating new challenges and opportunities for insurers and MGAs. In addition to continuously improving our current service portfolio, I will focus on driving product innovation and constantly expanding our range of offerings so that our clients are equipped with the best possible solutions. With my background in technology, data analytics and claims management, I look forward to working closely with our partners to develop customized, data-driven solutions that improve resilience, efficiency and compliance in the complex claims space. By applying expert knowledge and utilizing advanced analytics, we can help insurers make more informed decisions and achieve better outcomes for their policyholders.” 

Roman Claren, Managing Director, Pro Global Germany, said: 

“I’m delighted to welcome both Roman and Oliver to Pro Global Germany as we continue to strengthen our position in this key market – a space we are well-established and see significant growth opportunities. Their combined expertise in claims management, product development, and regulatory compliance is a testament to the strength of demand in Germany and our wider team expansion efforts. 

We recognise the power of data in shaping claims strategies, refining products, and anticipating market developments. Roman and Oliver’s insights will be invaluable in further enhancing efficiency and delivering even greater value to our clients, particularly in managing complex disability employer liability claims with a focus on fairness, compliance, and operational excellence.” 

 

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Danny Maleary speaks to Insure TV at the Insurtech Insights Europe 2025, to discuss insurance policies acquisition, enhancing customer journeys and improving profitability through AI and tech-enabled solutions.

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Job title: CEO, Pro MGA Global Solutions

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The Pro MGA Global Solutions team recently attended Insurtech Insights Europe 2025 in London, the two-day long conference event which runs annually in the UK, bringing together top industry players at the forefront of innovation and technology.   

Our Chief Executive of Pro MGA Global Solutions, Danny Maleary along with the team were out in full force at the event discussing the MGA space at length and technology trends.  

Here’s a look at our key takeaways from the conversations we had across the two days.  

On day one, Pro MGA Global enjoyed listening to Nick Lelpo, Prima’s UK Country Head speak on a fantastic panel titled – From Ideas to Impact Streamlining Opportunity Discovery in Insurtech, alongside other industry experts from House of Insurtech, Spectrum Life and Wavu.   

Turning the topic towards MGAs and technology, we see many MGAs embracing it, with 2025 demonstrating a renewed enthusiasm towards technology, however, there is still a long way to go in this evolution.  

 Pro MGA Global Solutions believes that technology plays a key role in businesses despite itself being a very early adopter in the regulatory space around technology.   

We believe that the regulator is taking a measured view towards the recent trend for deregulation in the UK, following the Labour government’s push towards a more competitive economy.   

In addition, we welcome regulation but believe that caution needs to be exercised where elements of deregulation or a relaxing of rules are present.   

To build a successful MGA, partnerships and collaboration are also key, as is the right financial backing.  

Overall new emerging technologies have great potential in the MGA space and we at Pro MGA Global Solutions are excited to witness this evolving growth in the coming years.   

Thank you to the Insurtech Insights team for hosting such a great event! 

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The global specialty insurance market is poised for significant growth, with projections estimating an increase from USD 154.89 billion in 2025 to USD 254.48 billion by 2030, reflecting a compound annual growth rate (CAGR) of 10.44%. This expansion is driven by factors such as the rising frequency of natural disasters and the escalating prevalence of cyber-attacks, which have heightened the demand for specialised insurance solutions.   

In the reinsurance sector, Fitch Ratings has adjusted its outlook for global reinsurers from ‘improving’ to ‘neutral,’ indicating that while strong balance sheets and resilient financial performance are expected to persist into 2025, further enhancements are less likely. This suggests a stabilisation in reinsurance pricing, with market conditions reaching a balance between supply and demand.

These market dynamics underscore the critical need for operational agility and precision among re/insurers. At Pro Global, we are committed to unlocking operational efficiency through a strategic three-pillar approach that seamlessly integrates human expertise with advanced automation, freeing up resources and enabling businesses to focus on what fuels success. As trusted advisors, we provide the right balance of technology and deep industry knowledge to help our clients navigate complexity with confidence.  

Onshore SME Expertise: Precision and Compliance at the Core – Our onshore teams provide deep specialist expertise across critical areas such as audit, claims, and underwriting. This robust subject matter expertise ensures that our clients maintain high levels of compliance and accuracy, supporting operational delivery even in complex environments. By offering tailored insights and hands-on support, we help navigate the rigorous demands of today’s market while allowing insurers to focus on their strategic priorities.  

Proactive Digital & Data Solutions: Driving Smarter Decision-Making – Beyond technology alone, our dedicated Digital Services team champions a people-led approach that leverages cutting-edge tools alongside robust process improvement. By integrating automation with the nuanced expertise of industry professionals, we empower clients to make smarter, data-driven decisions. This holistic approach optimizes analytical capabilities, streamlines workflows, and delivers actionable insights—enhancing efficiency without sacrificing the critical human judgment required for success.  

Evolving Offshore Capability: Expanding Global Reach and Flexibility – While still in development, our offshore capability is rapidly emerging as a key component of our operational model. With a focus on expanding our global footprint and harnessing multilingual talent, we are building an infrastructure designed to deliver cost efficiency, scalability, and enhanced support for global clients. By strategically balancing automation with skilled professionals, this evolving pillar adds flexibility to our service delivery, ensuring that we can meet the diverse and dynamic needs of the market as they arise. 

If you’re an insurer, MGA, or reinsurer navigating the complexities of today’s economic climate, we invite you to engage with us to explore how our three-pillar approach can drive the efficiency and data quality necessary for success in a fast paced and changing world. 

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Job title: CEO and Group Head of Claims

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It’s no secret that insurers want to “work smarter, not harder,” which is why the London Market has been actively pursuing technological advancements. Yet, despite widespread recognition of the benefits of automation, many firms remain entrenched in outdated, manual processes, reliant on spreadsheets and fragmented legacy systems. 

As highlighted in the Lloyd’s Market Association’s (LMA) recent report, The Growth of Enhanced Underwriting in the Lloyd’s Market: The New Normal?, automation is already playing a significant role in reshaping underwriting practices, with an estimated $5 billion in premiums flowing through enhanced underwriting models. Insurers are now leveraging digital tools not just to streamline operational processes but also to enhance underwriting decisions and portfolio strategies.

The Rise of Enhanced Underwriting

Pro Global is increasingly advising leading re/insurers on automation as a holistic tool across their processes. The LMA report categorises these advancements under the umbrella of Enhanced Underwriting, which is divided into four models:

  • Augmented Underwriting – Human underwriters remain central to decision-making, but data and algorithms triage submissions, score risks, and provide insights.
  • Pure Algorithmic Underwriting – Fully automated underwriting removes human intervention entirely.
  • Digital and Algorithmic Broker Facilities – Digitised broker facilities integrate with carriers via APIs to provide real-time analytics and automated risk placement.
  • Active Portfolio Trackers – These follow-only syndicates efficiently allocate capital by backing outperforming books of business.

The LMA report underscores that enhanced underwriting is expected to grow exponentially, particularly in Augmented Underwriting, where adoption is projected to rise by 60% annually. This trend is driven by insurers’ need to optimise risk selection and deploy capital more efficiently.

Efficiency Gains and Competitive Advantage

The applications of automation go far beyond London Market processes, extending into areas such as underwriting, claims, and operational efficiency. Clients we have worked with have reported significant increases in efficiency, time, and cost savings by applying automation to business tasks.

A prime example is global risk exchange Vitesse, which saved nearly a day per month by combining data validation, robotic process automation (RPA), and API integration. The firm’s expansion into the USA, Canada, and Europe resulted in increased accounts and complexities, necessitating automation. Pro Global developed a tailored RPA bot to automate the journal creation process, cutting processing time by 45% and significantly reducing errors.

To learn more about how Pro Global’s Digital Services can help your organisation implement cutting-edge automation solutions, visit our Digital Services page

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Name: Kristy Lovegrove
Job title: Group Head of Technology

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This article is shared with the kind permission of Insurtech360.

The MGA sector is set for further notable expansion and innovation in 2025, with technology driving transformation across multiple dimensions. Expectations across the industry reflect increased demand for enhanced digital solutions that streamline operations, improve and expand distribution into new and niche sectors, and strengthen end-to-end underwriting and claims management. As a service provider and incubator for emerging and growth-stage MGAs, Pro MGA Global Solutions supports multiple MGA propositions launching and growing in the market, and there is substantial momentum around insurtech heading into 2025.

The ecosystem for insurtech-driven MGAs is expanding globally, with the U.S., Europe, Latin America and the Middle East at the forefront of this growth. The sector’s agility and entrepreneurial spirit make it a natural testing ground for new technologies globally, with MGAs functioning as innovation hubs where insurtech solutions can be implemented and refined.

MGAs are critical players in testing and validating new technologies, from AI and automation to customer-centric platforms. Lessons learned in the MGA space often cascade to the broader insurance industry, where MGAs serve as models for technology-driven efficiency and responsiveness. By deploying insurtech innovations, MGAs provide valuable insights and proven practices that other insurance entities can adopt to enhance their own offerings.

Enhanced Underwriting

The evolution of specialty risks at Lloyd’s has been significantly influenced by the adoption of Enhanced Underwriting practices, as highlighted in the Lloyd’s Market Association (LMA) report, The Growth of Enhanced Underwriting in the Lloyd’s Market: The New Normal? This comprehensive analysis sheds light on how digital tools, advanced data analytics, algorithmic underwriting and other technology-driven strategies are not only reshaping underwriting but also enabling the Lloyd’s market to address increasingly complex specialty risks.

The report underscores the shift toward more granular, data-informed underwriting processes, which are essential for managing emerging risks such as cyber threats, climate-related exposures, and geopolitical volatility. Enhanced Underwriting is far from full maturity, as the study notes – reflected in the estimated USD 5 billion in current premiums passing through Enhanced Underwriting models, accounting for c.7% of the USD 69.4bn premium written in Lloyd’s (2023).

However, the report flags that premium only tells a part of the story. “Through interviews and a market survey, we have identified at least 40 Enhanced Underwriting models being developed by carriers, MGAs and brokers, with many others considering build outs in the next 2 to 3 years.”

Certainly from an MGA incubator and broker facilitation perspective, we can see key benefits for brokers and insurers, such as simplifying placements, enhancing governance, and aligning capital risk more effectively.

In addition, the fresh thinking around Enhanced Underwriting, data standardisation and market interoperability helps strengthen compliance oversight and address concerns regarding regulatory inconsistencies.

Embedded Insurance Gains Scope and Relevance

Meanwhile, demand for embedded insurance is rising as non-insurance brands—such as retailers, peer-to-peer lending platforms, and automotive manufacturers—integrate insurance options at the point of sale, making coverage more accessible and convenient. The embedded insurance market is expected to exceed $70 billion in GWP by 2025, with MGAs poised to benefit and drive much of this growth.

In terms of tech deployment, low-code platforms are particularly appealing to MGAs in this space, as they enable quick, flexible product development and seamless integration with third-party systems. These platforms allow MGAs to respond to sector-specific demands with tailored, user-friendly products that align with consumer expectations for simplicity and relevance. Pro MGA Global Solutions anticipates that MGAs will play a pivotal role in expanding embedded insurance going forward.

AI and Automation Transforming the MGA Landscape

Pro MGA Global Solutions is seeing a growing number of MGAs embedding AI into their strategies to enhance product development, risk assessment, and back-office efficiencies. AI tools are increasingly applied in underwriting, pricing, and fraud detection, significantly boosting agility.

At the same time, automation remains a cornerstone of MGA development, offering end-to-end efficiencies across the insurance lifecycle—from underwriting and policy management to customer service and claims processing. As MGAs scale, automation provides a foundation for operational efficiency, allowing lean teams to handle increased business volumes without compromising service quality. With market expectations pointing to streamlined processes and rapid scalability, MGAs are deploying automation solutions that allow them to compete effectively by reducing manual work and repetitive tasks.

We forecast that process automation will play an increasingly significant role in MGA business plans in 2025, supporting sustainable expansion while reducing overhead.

The Vital Role of Talent in a Tech-Driven MGA Landscape
Talent remains a key driver of MGA success. As MGAs evolve, they require diverse expertise, not only in underwriting but also in technology development and digital strategy. Attracting and retaining skilled tech talent is essential to building scalable operations and optimising digital solutions. The MGA market is increasingly recognising the value of tech-oriented teams capable of leveraging AI, automation, and data analytics to unlock new growth opportunities.

In 2025, the MGA sector will likely see heightened competition for tech and coding talent, with a focus on roles that support digital transformation and innovation. Pro MGA Global Solutions is committed to fostering this talent, offering MGAs the resources and support to build teams capable of driving industry-leading results.

Keeping pace with rapid advancements
As the insurance industry seeks to keep pace with rapid technological advancements, MGAs stand out as the ideal proving ground for the latest in insurtech. Their flexible, agile business models enable them to quickly trial and adopt new tools, from AI-driven risk assessment and fraud detection to automated claims processing and embedded insurance offerings. By testing and refining these technologies in real-time, MGAs offer a low-risk route for innovation for the sector’s capacity providers to add capital backers, often yielding results that shape broader industry practices.

The test-and-learn approach MGAs bring allows them to bridge technology with real-world applications, driving insights that insurers can use to scale up solutions more confidently. In this way, MGAs do not just contribute to operational improvements but actively set the pace for a more responsive, customer-centred insurance ecosystem. As insurtech grows, MGAs will continue to play a critical role as accelerators, bringing advanced technology from concept to trusted industry standard. While initiatives like Enhanced Underwriting and full end-to-end automation are at the beginning of their journeys, they’re only heading one way for the global specialty insurance sector. Going forward, the intersection of compliance and algorithmic underwriting represents both a challenge and an opportunity for insurers in the face of regulatory evolution and technological transformation, but it’s an exciting space.

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This article is shared with the kind permission of Insurance Edge.

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According to Statista, the amount of data created, captured, copied, and consumed globally is projected to reach 180 zettabytes by 2025. This is an increase of about 50% from 2023. For those that don’t know off the top of their heads, a zettabyte is equal to one sextillion bytes, or 1,000,000,000,000,000,000,000 bytes.

Statistia’s staggering figure underscores the importance of data management across industries, particularly in re/insurance. In the re/insurance sector, data is not just a byproduct of business processes – it is the foundation upon which risk assessments, underwriting decisions, and compliance are built.

So it follows that for our sector, the rapidly evolving global insurance market, the sheer volume of data generated and processed is also increasing almost exponentially. Yet, with such a massive influx of information, the quality of data often becomes compromised. Inaccurate, non-standardised or incomplete data can set off a chain reaction of errors, undermining risk models, misguiding exposure management, and leading to compliance breaches.

As we approach 2025, re/insurers are increasingly investing in robust data cleansing processes to mitigate these risks. In this editorial, we will explore the latest trends in data cleansing, the impact of poor data on exposure management, and the tools and techniques reshaping the insurance landscape.

The Impact of Poor Data on Exposure Management and Risk Models

At the core of re/insurance operations is exposure management—the process of evaluating and pricing risk across portfolios. This process relies on accurate data, such as property valuations, geographical information, and historical loss data. Exposure models, such as catastrophe models for natural disasters, are fueled by this data, and the quality of the input directly impacts the accuracy of the output.

However, exposure schedules or Statements of Value (SOVs) often come riddled with errors—outdated property valuations, missing fields, or inconsistencies across datasets. These data discrepancies not only skew the models but can also lead to mispricing of risk, which may result in significant financial loss or, worse, inability to pay claims accurately in the event of a disaster.

Inaccurate data also hampers decision-making. For instance, a re/insurer may overestimate their exposure in a particular region, leading to unnecessary capital allocations or reinsurance purchases. Conversely, underestimating exposure may leave the company vulnerable to catastrophic losses. The cascading effect of poor data is clear, as it touches every part of the insurance value chain—from underwriting to claims handling.

Compliance Risks Tied to Data Quality

Beyond the financial implications, incorrect or unverified data also brings a host of compliance issues. The insurance industry is one of the most heavily regulated sectors, and regulatory bodies are scrutinising data quality and governance more closely than ever. Regulators demand that insurers have robust systems in place for managing and verifying their data, particularly in light of increased transparency requirements and evolving risk landscapes.

Data sharing within the insurance chain also poses risks. Re/insurers often work with multiple partners – brokers, agents, and reinsurers – and need to share exposure data to ensure that all parties are aligned on risk levels. If one party is operating on incomplete or incorrect data, the entire insurance chain can become compromised, leading to disputes, delays in claim settlements, or breaches in service-level agreements (SLAs). Insurers must, therefore, ensure that their data is clean, accurate, and compliant before sharing it with partners.

Garbage in = garbage out

Though nearly 20 years old, Hurricane Katrina is the storm that really focused the market’s attention on loss modelling, data quality and the impact of bad or incomplete data. In the exposure management world this event was a game changer.

After the event, it became clear that a number of locations were coded as concrete ‘on land’ Casino’s whereas actually they were floating Casino’s built on barges, which were far more susceptible to storm damage. Incorrect location data translated to a poor understanding of where exactly levees were located and an underestimation of the ultimate flood risks.

Incorrect location data can put risks into or outside of hazard zones leading to an incorrect assessment of the risk. To increase efficiency around geocoding some Insurers opt to model locations based on ZIP codes over street addresses, however this has proven to increase the amount of inaccurate loss estimations.

Trends in Data Cleansing

The process of data cleansing involves cleaning, validating, and standardising data, particularly exposure schedules, to ensure that models run on reliable information. In recent years, technological advancements have transformed how this cleansing process is performed.

One of the biggest trends is the adoption of augmented data platforms that automate much of the data cleansing workload. These platforms use machine learning and AI to scan vast datasets, flag inconsistencies, and apply fixes at scale. The advantages are clear: speed, accuracy, and consistency. Augmented tools can cleanse large volumes of data more efficiently than it would take human analysts while reducing the risk of manual errors.

Techniques such as anomaly detection and pattern recognition are also becoming commonplace. These allow insurers to identify outliers in datasets – whether it’s an abnormally low property valuation or a misclassified exposure – and correct them before they cause issues downstream. Data enrichment, another technique gaining traction, involves enhancing raw data with third-party information (such as location intelligence) to fill in gaps and improve overall data quality.

Despite these advancements in the automation of data cleansing functions, human oversight remains vital. While AI-driven tools are excellent at automating routine tasks, they still require human input to set parameters, validate results, and make judgement calls on more complex data issues. Additionally, insurers must balance the need for rapid data cleansing with the risk of over-relying on automation. There’s always the risk that in an effort to streamline processes, insurers may inadvertently bypass critical validation steps, leaving errors undetected.

The Future of Data Cleansing in Re/Insurance

Looking ahead, the role of data cleansing in the re/insurance sector is only set to grow. As insurers continue to face pressure to innovate and reduce operational costs, we can expect to see even greater reliance on automated data platforms. Advanced AI systems are likely to evolve, allowing for real-time data cleansing that seamlessly integrates into exposure models. This will dramatically reduce the time it takes to underwrite policies, giving companies a competitive edge in the fast-paced market.

Moreover, data governance and compliance will continue to be a key driver. Regulatory bodies are unlikely to ease their demands on data quality; in fact, with the ever-expanding scope of environmental, social, and governance (ESG) considerations, insurers will need to ensure that their data is not only clean but also aligned with broader compliance and reporting standards.

In 2025, the re/insurance sector will likely see a convergence of data cleansing, compliance, and exposure management. Clean, validated, and standardised data will become the linchpin of the re/insurance industry, and those who fall behind risk not only financial loss but also regulatory and reputational consequences.

Insurers must ensure they have strong robust data validation, data cleansing and data enhancement, which are key to accurate risk assessment. Technology works best when monitored and controlled by a team with subject matter expertise and processes established by experience.

For those insured, providing as much data as possible around locations, occupancies, constructions and additional modifiers is also key. The more current and accurate the data, the more accurate the loss estimate and the premium.

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Name: James Hunt

Job title: Account and Operations Manager

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