Price optimization: Big data boon or unfair practice? You decide | PropertyCasualty360

Price optimization is a hot topic in the insurance world right now.

Insurers, customers, state insurance commissioners, big data experts, consumer advocacy groups and industry thought leaders are all weighing in on how the practice will affect insurance.

In fact, nearly one in five insurance practitioners predicted price optimization would be the most impactful industry trend of 2016, according to a survey by The Institutes. That’s unlikely to change for 2017.

And even though it seems like everyone’s talking about price optimization, there are still a lot of uncertainties. You’d be forgiven if you couldn’t say exactly what price optimization is or how it fits into policy pricing. In this post, we’ll dig a little deeper into three big questions in the price optimization debate.

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Price optimization: Big data boon or unfair practice? You decide | PropertyCasualty360.