How Active Risk Management Drives Better Insurance Underwriting
Comparing insured to peers helps to clarify which events are individual circumstances and which are part of larger trends.
A study shows that identifying previously undiscovered risks could help insurers save billions in premium leakage.
Like regular medical visits, regular check-ins with customers pays off for both insurers and insureds.
Active risk management aims to reduce loss ratios and premium leakage.
Customers who are negatively affected by active risk management are more likely to leave, while the others may be more likely to remain.
