The survey additionally discovered that many insurers view expertise as the best means to shut the safety hole. Some firms are already making use of superior instruments to cut back insurance coverage prices, with 40% of respondents reporting the adoption of those measures. Others are creating new merchandise, similar to parametric or microinsurance, which 40% of organizations are presently utilizing. Moreover, 28% of corporations are participating with regulators by trade our bodies, whereas 32% are utilizing knowledge to enhance threat evaluation and product design.
