Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Quadrant’s InsureWatch Supplies Analytics to Support Accurate Underwriting Decisions
  • USA - English


News provided by

JoTo PR

Jul 13, 2016, 08:00 ET

Share this article

Share toX

Share this article

Share toX

Quadrant Information Services CEO, Michael Macauley, discusses InsureWatch and its high demand within the P&C insurance industry.
Quadrant Information Services CEO, Michael Macauley, discusses InsureWatch and its high demand within the P&C insurance industry.

Pleasanton, CA (PRWEB) July 13, 2016 -- In 2015, the top 25 groups and companies in the US property and casualty insurance industry accounted for 64% of total premiums collected, according to figures from the National Association of Insurance Commissioners. The concentration of business among the top 25 was even higher in certain specific coverage areas, such as homeowners multiple peril (75%), workers compensation (69%), and private passenger auto insurance (84%).1

Insurance pricing is above all a matter of calculating risk.

Post this

“Even that doesn’t tell you the whole story,” says Michael Macauley, CEO, Quadrant Information Services, a leading supplier of pricing analytics services for property and casualty insurance companies. “If you take a closer look at the NAIC numbers, the top five carriers have 47% of the market in homeowners insurance, 28% of workers compensation, and 54% of private passenger auto. P&C coverage is a consolidating, brutally competitive industry, and it’s getting tougher every day.”

An important—in fact, decisive—factor in this ongoing struggle, says Macauley, is the increasing use of high-speed, high-power data analytics. “Insurance pricing is above all a matter of calculating risk. You may be able to increase your competitive edge by cutting your rate on the best business and still get a good return. You may also need to raise your rate for certain kinds of coverage—even above what a competitor is charging—to keep from booking bad risks at an inadequate price. To make those calculations accurately, you need a strong predictive analytics capability.”

Without predictive analytics, Macauley notes, insurers may be in danger of adverse selection, in which—unlike better informed competitors—they fall into a pattern of overpricing profitable, low-risk coverages (thus losing them to the competition) and underpricing higher-risk coverages. The result can be a kind of hollowing out of the portfolio, gradually replacing their best long-term risks with an ever-growing list of poor-performing accounts. Adverse selection can lead to a downward spiral in which loss ratios and loss costs increase, leading to a decision to raise rates. Increased rates lead to acquisition and retention problems, which lead to declining volumes. In the end stages, reserves become inadequate and the insurer is forced to downsize and narrow its focus, narrowing or eliminating the possibility of future growth.

“What’s happening in a situation like this,” Macauley says, “is that the insurer is unable to identify and price risk as accurately as its competitors. To prevent it from happening—or to reverse it if it’s already started—the insurer needs to supplement its own data with a broader, more stable and more predictive data set. Then to make effective use of that data, they need a presentation and analysis tool that’s easy and fast enough to use to support quick, accurate underwriting decisions.”

To give carriers that ability, Quadrant Information Services developed InsureWatch, a web-based predictive data source and analysis tool that allows property & casualty insurers to obtain highly accurate pricing information in a fraction of the time formerly required. With a few clicks of the mouse, users can take single or multiple quotes and modify them to be rated within each ZIP code in a state; develop on-the-fly rate strategies to improve competitive pricing; and compare competitors’ rate plans going back more than a decade.

Quadrant’s ability to provide that kind of information is based on:
• Industry knowledge. A pioneer in insurance industry data analytics, over 25 years Quadrant has worked with all the top carriers in the United States. Its rate set library is the largest in the nation.
• Accuracy. Quadrant’s close ties to the industry, and the trust in which it is held, enable it to obtain 60% of its data directly from large national carriers. These partnerships, along with a rigorous quality assurance program, allow it to deliver 99%+ rate accuracy.
• Innovation. InsureWatch is the latest in a long line of new technologies Quadrant has provided for the property & casualty industry during more than 25 years in the business.

“We know this industry,” Macauley says, “and we designed InsureWatch to meet a real and growing need. With this technology, companies can pinpoint the areas in which they are competitive and not competitive and quickly develop sound, workable strategies. They will be able to assess the competition and the market, understand where they have seen success, and where they need to shift focus to find more success. They’ll be competing with their eyes wide open.”

About Quadrant Information Services:
Quadrant Information Services, headquartered in Pleasanton, CA, provides pricing analytics solutions for property and casualty insurance companies. Quadrant gives actuary, product development, pricing, sales, and marketing personnel at its client companies—who include all the major insurance carriers in the United States— the data they need to make accurate, data-driven decisions. An industry innovator since its founding in 1991, Quadrant has provided the P&C insurance field with a long series of technological advances, most recently InsureWatch, the industry’s first cloud-based pricing tool, which allows the user to produce unlimited combinations of reports with the click of a mouse. For more information, and to learn why Quadrant is for insurance companies that are tired of losing the right customers and winning the wrong ones, please visit http://www.quadinfo.com.

1. National Association of Insurance Commissioners, March 28, 2016. http://www.naic.org/documents/web_market_share_160301_2015_property_lob.pdf

Karla Jo Helms, JoTo PR, +1 (888) 202-4614 Ext: 802, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.