HARTFORD, Conn., March 11 /PRNewswire/ — The nonstandard auto insurance market is being redefined by the influence of technology and other external forces, according to a new study by Conning Research and Consulting.
“As predictive modeling has become more prevalent in auto insurance underwriting, the standard auto market has expanded to include and price risks that would once have been thought of as nonstandard,” said Alan Dobbins, analyst at Conning Research & Consulting. “As a result, the new nonstandard market is undergoing a dramatic shift in risk profile.”
The Conning Research study, “The Nonstandard Auto Insurance Market: Evolutionary Challenges” reviews the recent history and performance of this market, and explores the forces shaping change in the segment.
“In addition to the effect of predictive modeling use in both standard and nonstandard markets, our analysis indicates increased competitive pressures in nonstandard auto and likely significant near-term consolidation,” said Stephan Christiansen, director of research at Conning. “Management focus and experience has always been critical in the nonstandard auto insurance market due to the higher risk profile inherent in the business. Now, however, management will need a new set of tools to aid in risk management.”
“The Nonstandard Auto Insurance Market: Evolutionary Challenges” is available for purchase from Conning Research & Consulting, by calling (888) 707-1177 or by visiting the company’s web site at http://www.conningresearch.com/.
About Conning Research & Consulting
Conning Research & Consulting provides insurance industry analysis to insurers and industry stakeholders. Its published research includes market coverage of 30 segments of the industry in addition to industry forecasting and identification and analysis of major strategic issues. The Conning name has represented excellence in independent insurance industry research for 50 years. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth insights and analyses on a wide range of industry products and issues. Conning is headquartered in Hartford, CT.
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Conning Research and Consulting
CONTACT: Anne Steinberg of Kitchen Public Relations, LLC, for ConningResearch and Consulting, +1-212-687-8999 or email@example.com
Web site: http://www.conningresearch.com/