How Active Risk Management Drives Better Insurance Underwriting
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.
Staying abreast of changing customer risks gives insurers and their representatives opportunities to better match total risk coverage to the customer.
Comparing insured to peers helps to clarify which events are individual circumstances and which are part of larger trends.
Getting a wider view of actual risk means better risk pricing, which benefits loss ratios.
