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Transforming Underwriting

MARCH 2004

As answers to these questions become clear, an underwriter and field staff can begin to communicate with agents and influence the agent/company relationship in new ways. The underwriting department can work with actuaries to shape tiers and rating structures in order to manage the company’s aggregate risk/premium relationship actively. As shown in Figure 4, over time the aggregate portfolio of risks and premiums which the insurer has accepted will shift to a more favorable relationship.

Figure 4: Optimization & Risk Portfolio Management

OPTIMIZATION & RISK PORTFOLIO MANAGEMENT

RISK PORTFOLIO A

TOTAL RISK

RISK PORTFOLIO B

TOTAL PREMIUM

Source: Celent

© 2004, Celent Communications. Authorized reproduction permitted.

www.celent.com

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