How Active Risk Management Drives Better Insurance Underwriting
A study shows that identifying previously undiscovered risks could help insurers save billions in premium leakage.
Getting a better handle on risk reduces premium leakage, which more than pays for the costs of an active risk management program.
Like regular medical visits, regular check-ins with customers pays off for both insurers and insureds.
As circumstances change, so do customers' risk scenarios.
Customers who are negatively affected by active risk management are more likely to leave, while the others may be more likely to remain.
