Retaining and engaging underwriting personnel

After investment returns diminished rapidly in the credit crunch there has been a significant shift in focus towards more effective risk management and underwriting profitability by insurers and reinsurers. Risk can take a number of forms including exposure, regulatory compliance, counterparty credit and market forces. However, an area of risk that has yet to be fully investigated, according to Ian Forwood, account director at Eurobase Insurance Solutions, is the operational constraints placed on underwriting staff due to the lack of business critical information in real time

A range of selectable real time information services can assist with the management of risk. One example is to identify the top risks by exposure and by premium income, for all risks in force and for the risks that have been written in the past month. This could be further targeted within the organisation, for example by underwriting team or by territory. Another example to help manage credit risk is by highlighting the most significant aged debt positions, which could again be further targeted by premium income and by reinsurance recovery.