Leveraging advanced data solutions for insurers and other key learnings from Insuretech.
Insurance providers depend on reliable data to determine risk, underwrite policies, verify authenticity of claims, detect fraud, and streamline their overall operations. But if there’s one thing we learned through dozens of conversations at Insuretech 2025, it’s that the industry is facing clear challenges that make their everyday jobs hard to do. With outdated systems, rising costs, and evolving consumer demands, the industry is in dire need of transformative change and advanced data solutions in insurance data management.
Here’s a deeper dive into our learnings from industry leaders.
Calling for modernized infrastructure
Today’s underwriters are forced to cobble together solutions from technology partners that are fundamentally misaligned with the unique needs of the insurance industry. It’s like trying to fit square pegs into round holes. Systems and tools provided are not seamlessly integrated or tailored, resulting in inefficiencies and frustrations.
Many insurance companies are restricted by legacy systems and tools that are not seamlessly integrated or tailored, resulting in inefficiencies, frustrations, and inflated costs. In fact, digital inefficiencies can increase operational expenses by up to 30%.
Modernized infrastructure, featuring advanced APIs and intuitive dashboards, is essential to breaking down these barriers. Underwriters and claims professionals need to access and leverage data with the required speed and accuracy, which will set the foundation for more efficient decision making processes.
Innovating Cost-Effective Data Solutions
Specifically within the auto insurance industry, accessing valuable data points such as Motor Vehicle Records (MVRs) come at a high cost, often pricing out companies from leveraging this data. Some insurance providers have found workarounds to keep costs down, such as leveraging credit data in isolation or in conjunction with other light touch data points.
However, these piecemealed solutions create a new challenge in that they present a fragmented view of an individual. This highlights how important it is to find advanced data solutions for insurance that both streamlines costs and maps a complete risk profile to the right individual.
With Checkr Trust, our customers benefit from our direct, proprietary access to many of these critical data points and data providers. These valuable relationships were built with over a decade of experience within the background check industry and help our customers tap a living, consistently maintained database of reliable data. Along with our unique ability to map hard-to-find data points to individuals, we’re able to create scoring models that include complete risk profiles allowing for both responsible fiscal management and comprehensive knowledge of an individual.
Building Strategic Partnerships and Centralized Systems
Industry events like Insuretech provide the perfect breeding ground for the opportunity to have transparent, collaborative conversations between leaders and vendors, and to form strategic partnerships. By tailoring solutions to meet specific demands, we’re not only improving service capabilities but also driving industry-wide change. Centralizing systems offers a streamlined approach that allows underwriting and claims professionals to leverage critical risk signals where they are already interacting today.
In the coming months, we are excited to launch key partnerships that started at Insuretech and will drive meaningful change for the industry.
Preparing for a Competitive Future
While new technologies always bring questions and hesitancy, the shift towards change is undeniable. Insurance companies realize the importance of positioning themselves at the forefront of technological advancements.
The conversations at Insuretech 2025 highlighted the industry’s readiness and necessity for change. By adopting advanced technology and focusing on comprehensive integration, the insurance sector is poised to overcome long-standing challenges and set new standards in data management.
We’re excited to be at the forefront of this transformation, ensuring insurance companies are equipped with reliable data and solutions to operate with greater efficiency, accuracy, and responsiveness to consumer demands.
