Premium rate increases slow across most commonly placed commercial lines.
The company intends to use AI to improve the speed and quality of insurance business processes.
Unambiguous standards still require corresponding implementation guides and adoption frameworks.
Home insurance premium rates rose, while auto insurance premium rates declined year over year, Applied reports.
Average premium renewals declined across all major commercial lines of business, Applied Systems shows.
The Insurance Portal peers into the future of independent life and health insurance distribution.
This is the first such decline in over two years, data compiled by a technology provider in the industry show.