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.
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.
Comparing insured to peers helps to clarify which events are individual circumstances and which are part of larger trends.
