Tools commonly used in the Insurance-Reports industry for day-to-day tasks and operations.

• Insurance reporting software
• Data analysis tools
• Statistical software
• Business intelligence tools
• Data visualization software
• Risk management software
• Claims management software
• Fraud detection software
• Customer relationship management (CRM) software
• Document management software

Common products and services typical of NAICS Code 524298-11, illustrating the main business activities and contributions to the market.

• Claims analysis
• Risk assessment
• Fraud detection
• Policy analysis
• Underwriting analysis
• Market research
• Customer satisfaction surveys
• Loss control analysis
• Actuarial analysis
• Data mining

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified Insurance Data Manager (CIDM): This certification is offered by the Insurance Data Management Association (IDMA) and is designed for professionals who work with data in the insurance industry. The certification covers topics such as data quality, data governance, and data analytics.
• Chartered Property Casualty Underwriter (CPCU): This certification is offered by The Institutes and is designed for insurance professionals who specialize in property and casualty insurance. The certification covers topics such as risk management, insurance policy analysis, and insurance operations.
• Associate In Insurance Data Analytics (AIDA): This certification is offered by The Institutes and is designed for professionals who work with data in the insurance industry. The certification covers topics such as data analytics, data visualization, and data management.
• Certified Insurance Counselor (CIC): This certification is offered by the National Alliance for Insurance Education & Research and is designed for insurance professionals who specialize in commercial insurance. The certification covers topics such as risk management, insurance policy analysis, and insurance operations.
• Associate In Insurance Services (AIS): This certification is offered by The Institutes and is designed for insurance professionals who specialize in insurance operations. The certification covers topics such as insurance policy analysis, insurance underwriting, and insurance claims.

A concise historical narrative of NAICS Code 524298-11 covering global milestones and recent developments within the United States.

• The Insurance-Reports industry has a long history dating back to the early 20th century when insurance companies started to collect data on policyholders and their claims. In the 1920s, the industry began to standardize the collection of data, which led to the creation of the Insurance Services Office (ISO) in 1971. The ISO is a leading provider of data, analytics, and decision-support services for the property and casualty insurance industry. In recent years, the industry has seen significant advancements in technology, such as the use of big data and artificial intelligence to improve risk assessment and claims processing. In the United States, the industry has also been impacted by regulatory changes, such as the Affordable Care Act, which has increased demand for health insurance-related reports.

The anticipated future trajectory of the NAICS 524298-11 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The insurance-reports industry in the USA is expected to grow in the coming years due to the increasing demand for data analytics and risk management services. The industry is expected to benefit from the growing adoption of technology and the increasing use of data analytics to improve underwriting and claims management processes. Additionally, the industry is expected to benefit from the increasing demand for risk management services, particularly in the healthcare and financial services sectors. However, the industry may face challenges from regulatory changes and increasing competition from new entrants in the market.

Recent groundbreaking advancements and milestones in the Insurance-Reports industry, reflecting notable innovations that have reshaped its landscape.

• Verisk Analytics launched a new platform called Geomni Property, which uses aerial imagery and machine learning to provide insurers with more accurate property data.
• LexisNexis Risk Solutions launched a new platform called LexisNexis Vehicle Build, which uses vehicle identification numbers to provide insurers with more accurate data on vehicle specifications.
• CoreLogic launched a new platform called CoreLogic InsurTech, which uses data analytics and machine learning to provide insurers with more accurate risk assessments.
• Verisk Analytics acquired PowerAdvocate, a provider of energy intelligence solutions, to expand its offerings in the energy sector.
• LexisNexis Risk Solutions acquired Wunelli, a provider of telematics data, to expand its offerings in the auto insurance market.
• CoreLogic acquired Symbility Solutions, a provider of property insurance claims management software, to expand its offerings in the property insurance market.
• Verisk Analytics partnered with Driveway Software to develop a new telematics platform for auto insurers.
• LexisNexis Risk Solutions partnered with TrueMotion to develop a new telematics platform for auto insurers.
• CoreLogic partnered with Flyreel to develop a new platform for property insurers that uses artificial intelligence and computer vision to assess property damage.
• Verisk Analytics partnered with Munich Re to develop a new platform for cyber risk management.