After a long period of soft and competitive conditions the UK insurance market – or perhaps more accurately sections of it – is hardening. How well insurers are positioned for this change can be assessed by some specific questions aimed at Underwriting Directors and/or Portfolio Managers.
We were delighted to continue our support recently for Covéa Insurance as one of our Senior Associates, Gus Robertson, spent a couple of days with a group of underwriters to lead a technical development workshop.
In this latest article, Peter Turrell reflects on six of the key questions that have shaped a number of our client engagements over the past three years when considering the pricing knowledge needed by underwriters. If these questions can be answered and used to resolve the issues behind them, then pricing capability throughout the organisation can be transformed for real competitive advantage.