Business insights

The art of underwriting in the automated age - Suncorp Insurance Insights White Paper

The rapid proliferation of data modelling and automated systems has allowed insurers to assess and price risks with unprecedented accuracy. However, there have been dramatic implications for the underwriting profession. This Suncorp Insurance Insights white paper examines the ongoing importance of human judgement and intuition and how the underwriting profession will continue to evolve in the coming decade.

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Shaping the future of broking - Suncorp Insurance Insights White Paper

The paper looks at what next generation of broking leaders believe is the future of the broker industry. It canvasses the views of the five finalists of the 2015 Vero Warren Tickle Memorial Award for the NIBA Young Professional of the Year and what they see are the challenges and opportunities for the industry in the coming decade.

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James Cook Univeristy Cyclone Testing Station: Insurance Claims Data Analysis for Cyclones Yasi and Larry

Suncorp commissioned the Cyclone Testing Station (CTS) at James Cook University to conduct a comprehensive study to enhance Suncorp’s understanding of the vulnerability of houses in North Queensland to natural hazards, particularly tropical cyclones and thunderstorms. CTS is an independent authority on building performance assessment for severe wind events in Australia.

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Protecting the North: The benefits of cyclone mitigation

This report examines costs and benefits of a range of mitigation options for housing stock in North Queensland, drawing on work undertaken by JCU’s Cyclone Testing Station based on outcomes from Tropical Cyclone (TC) Yasi, and detailed insurance information provided by Suncorp Group.

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Build to Last: A Protecting the North Initiative

Suncorp has partnered with the Cyclone Testing Station (CTS) at James Cook University (JCU) and Urbis to analyse insurance claim data to better understand cyclone vulnerabilities in homes, and what we can do to address them.

The research shows that simple, low-cost mitigation can pay for itself after just one cyclone.

Our Protecting the North initiative seeks to address these risks and cut the cost of insurance for those at high risk. We see this research as a first step toward a wider program of activity that will build a safer community and a more sustainable future for the North.

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Cyclone Resilience Research - Phase II

In 2014, Suncorp commissioned the Cyclone Testing Station (CTS) at James Cook University to conduct a comprehensive study to enhance Suncorp’s understanding of the vulnerability of houses in North Queensland to natural hazards, particularly tropical cyclones and thunderstorms. The study involved the analysis of insurance claims for residential homes in North Queensland (NQ) after Cyclone Yasi. Key drivers of cyclone-induced losses were identified in the Phase I analysis. As a recent extension of that work, the current study (Phase II) builds on the Phase 1 by estimating the reduction in losses based on retrofit and mitigation solutions for the typical loss drivers.

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