How Active Risk Management Drives Better Insurance Underwriting
Active risk management aims to reduce loss ratios and premium leakage.
Comparing insured to peers helps to clarify which events are individual circumstances and which are part of larger trends.
Staying abreast of changing customer risks gives insurers and their representatives opportunities to better match total risk coverage to the customer.
Getting a wider view of actual risk means better risk pricing, which benefits loss ratios.
A study shows that identifying previously undiscovered risks could help insurers save billions in premium leakage.
