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Insurance Brokers Are Sharing Critical Insight With Mid-Market Clients

After decades of gathering and warehousing data on insurance purchases, exposures and claims from their commercial clients, more insurance brokers are offering to share the power of their “big data” sets with their middle-market clients.

Whether it’s to compare their insurance purchases with that of their peers or to determine the likelihood and effect of a hack attack on vulnerable information technology systems, insurance brokers’ data analytics tools are becoming more sophisticated in response to their middle-market clients’ risk management needs.

While certain analytics, such as benchmarking tools used to compare insurance purchases of organizations in a particular industry, typically are available at no additional charge to most middle-market clients, some brokers do charge additional fees to conduct more sophisticated analyses, such as predictive modeling.

Read more: Business Insurance

 

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