Growth in insurance depends less on the amount of data collected than on how it is applied. Many insurers are weighed down by legacy systems while their challenges grow more complex. Simply gathering information is not enough. Applied insight is what unlocks value and growth.
Douglas Robare, an underwriting strategist with nearly three decades across global insurance, M&A, and insurtech, has seen firsthand how organizations lose their way by equating more data with more clarity. “I once sat in a boardroom with a carrier that had just spent millions on a data platform. The CEO pulled up dashboard after dashboard and finally asked me which one would tell him whether to exit a specific class of business. None of them could answer that question. They had built a monument to data collection, not decision-making.”
From Data Saturation to Strategic Clarity
“Most companies are drowning in data but starving for insight,” Robare says. “Growth comes from having a direction, not from having more dashboards. If a dashboard doesn’t change a decision (price, limit, or risk appetite), it’s theatre.”
The evidence is already visible in the market. “McKinsey’s research showed that insurers who really embed analytics see loss ratios improve by three to five points, and premiums grow by 10 to 15 percent. That’s huge. It proves that those who connect data to decisions are already pulling ahead. Data only matters when it changes how you act.”
Confronting Legacy and Complexity
The insurance sector’s acquisitive history has left carriers with overlapping systems and data silos. “Insurers hold vast datasets, but that’s not their core competency,” Robare explains. “Recognizing those limits can actually be liberating. You don’t have to solve everything yourself.”
He points to recent industry findings that echo his experience. “A Deloitte survey showed most carriers are still using data mainly for cost control, not for growth. I’ve seen the same thing: great datasets, limited strategic use. The turning point comes when leaders admit they can’t do it alone. Then you start to see real partnerships with technology firms and data specialists. That’s how you extract patterns, rebalance portfolios, and navigate today’s risk landscape.”
Three Actions for Underwriting Leaders
When asked how underwriting leaders should approach data, Robare points to three practical steps:
- Return to fundamentals. “Concentrate on exposures. Ask yourself: what am I really on risk for? Don’t just accept what a spreadsheet shows. Understand the underlying drivers.”
- Embrace emerging tools. “Machine learning and large language models can distil millions of records into actionable signals. Some carriers experimenting with these tools have seen double-digit growth in new business premiums versus peers. I’m not surprised. If you can quote sharper, faster, and with better context, you win business. It’s that simple.”
- Prioritize portfolio health. “Harnessing data allows you to tilt your book, rebalance, and exit where needed. That protects credibility with clients and ensures you’re creating lasting value. It’s about portfolio discipline, not just individual wins.”
He offers a contrarian insight: “Sometimes the best use of data is deciding what not to underwrite. I’ve seen carriers grow faster by walking away from 30 percent of their book than peers who tried to optimize everything.”
Governance and Growth in the Digital Age
Robare sees data reshaping governance as well. “Automation reduces ingestion errors, strengthens audit trails, and reinforces compliance. But it also frees underwriters to focus on higher-impact decisions. I’ve seen algorithmic tools materially cut oversight errors while giving leadership earlier visibility into portfolio health. That’s governance and growth working hand in hand.”
Digital tools, he argues, can simultaneously reduce operational risk and sharpen competitive edge. “It’s not just efficiency. It’s about resilience and credibility. Clients get better-tailored products, and carriers strengthen their role as long-term partners.”
Purpose as the Anchor
For Robare, the ultimate message is simple: purpose has to be the anchor. “Numbers alone don’t mean anything unless they’re tied to a vision that resonates with both employees and clients. Purpose gives data its direction.”
He believes the industry is approaching an inflection point. “The carriers who figure this out in the next 18 to 24 months will define the next decade. The ones who don’t will become footnotes in someone else’s acquisition strategy.”
His closing thought is characteristically direct: “Strategy isn’t enough. It’s the story behind the numbers, the people behind the performance, and the courage behind the change that create real transformation. In the end, numbers don’t move markets. Decisions do.”
To connect with Douglas Robare and learn more about his work, visit his LinkedIn or explore his website.
