Ask a dozen people in the insurance industry what is meant by ‘portfolio management’, and you’ll probably receive a dozen different responses. Dig a little deeper by asking whether they operate an effective portfolio management process, and wha...
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To err is human, to underwrite divine
There has been a lot of speculation recently around the use of AI in insurance and how this signals the death knell for Underwriters.
Having mopped up the coffee that I spat out and checked my life insurance provisions, this got me to thinking. Sur...
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Efficient or effective?
The ineffable question of the “effs”. What should a business aim for – and more specifically, for us, the underwriting function in an insurance business – efficient operations or effective decision making?...
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The boiling frog
We have all heard of the boiling frog syndrome which says: if a frog is put in boiling water, it will jump out to protect itself. However, if you place a frog in cold water and slowly turn up the heat, it won’t notice the subtle increase in tempera...
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Playing the game
Smith’s grocery store announces in the local press and its main storefront “We Will Beat Any Price In Town”. Great for consumers? Surely so, for this will always ensure the lowest prices in one convenient location.
Actually, no.
Smith’s b...
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An inspector calls
In various parts of our lives, we are examined and tested to grade our ability and knowledge, be that driving tests, ‘A’ levels, or piano exams.
And so it is with the insurance industry. Boards and regulators are increasingly pushing fo...
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