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.
Staying abreast of changing customer risks gives insurers and their representatives opportunities to better match total risk coverage to the customer.
Getting a better handle on risk reduces premium leakage, which more than pays for the costs of an active risk management program.
A study shows that identifying previously undiscovered risks could help insurers save billions in premium leakage.
Active risk management aims to reduce loss ratios and premium leakage.
