How Active Risk Management Drives Better Insurance Underwriting
Customers who are negatively affected by active risk management are more likely to leave, while the others may be more likely to remain.
A study shows that identifying previously undiscovered risks could help insurers save billions in premium leakage.
Comparing insured to peers helps to clarify which events are individual circumstances and which are part of larger trends.
Active risk management aims to reduce loss ratios and premium leakage.
Staying abreast of changing customer risks gives insurers and their representatives opportunities to better match total risk coverage to the customer.
