Following on from our glossary series of insurance terms and methods in which we outlined Claims Loss Ratio and Combined Ratio, I would like to take a look at the concept of Earned Premium and give you a few examples as to the usage, importance and pitfalls when working with it. In this article I…
Introduction In today’s fiercely competitive digital marketplace, insurance products are diverse, tailored and changing. Customers need trusted advice more than ever — and will happily pay for it. Providers who fail to establish themselves as trusted authorities will at worst be ignored completely and at best miss out on the more profitable accounts. Your customers…
What is Combined Ratio? What is Combined Ratio used for? Example of how to calculate Combined Ratio… How the experts make Combined Ratio work tor them Common mistakes and how to avoid them What is Combined Ratio? Combined Ratio is a measure of performance used by underwriters/insurance companies. What is Combined Ratio used for? Combined…
Someone recently asked me what it takes to put together a hit insurance operation in today’s marketplace, so we put together the following recipe… Take the following ingredients and mix well: 500 cups of Market Reach (Online is best, Offline will no longer suffice alone) Make sure you have plenty Agility (insurance is a changing…
Time and again I encounter insurance firms that fail to capitalise on claims loss ratio data. They: Do not have the insurance software tools to view reliable Loss Ratios automatically or quickly across all of their accounts. Are not taking the time to put those tools in place. Are not able to automatically tweak rates…
