Hartford, CT, March 11, 2008 – The nonstandard auto insurance market is being redefined by the influence of technology and other external forces, according to a new study by Conning Research and Consulting.
�As predictive modeling has become more prevalent in auto insurance underwriting, the standard auto market has expanded to include and price risks that would once have been thought of as nonstandard,� said Alan Dobbins, analyst at Conning Research & Consulting. �As a result, the new nonstandard market is undergoing a dramatic shift in risk profile.�
The Conning Research study, �The Nonstandard Auto Insurance Market: Evolutionary Challenges� reviews the recent history and performance of this market, and explores the forces shaping change in the segment.
�In addition to the effect of predictive modeling use in both standard and nonstandard markets, our analysis indicates increased competitive pressures in nonstandard auto and likely significant near-term consolidation,� said Stephan Christiansen, director of research at Conning. �Management focus and experience has always been critical in the nonstandard auto insurance market due to the higher risk profile inherent in the business. Now, however, management will need a new set of tools to aid in risk management.�
�The Nonstandard Auto Insurance Market: Evolutionary Challenges� is available for purchase from Conning Research & Consulting, by calling (888) 707-1177 or by visiting the company�s web site at www.conningresearch.com.
About Conning Research & Consulting, Inc.
Conning provides insurance industry analysis to insurers and industry stakeholders. The Conning name has represented excellence in independent insurance industry research for 50 years. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth insights and analyses on a wide range of industry products and issues. Conning is headquartered in Hartford, CT.