Abstracts » Insurance

Using claims data to improve underwriting

Article Abstract:

Property and casualty insurers should consider using advanced statistical analysis to improve their underwriting methods. Bailey-Simon and multiple regression analysis are both well-suited for using claims data to determine expected losses based on different controlled factors. Insurers in the UK and Canada use these methods for underwriting. US insurers need to adopt these methods and use available claims data.

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Claims management cuts environmental loss costs

Article Abstract:

Case management techniques can reduce environmental claims costs for insurance carriers. For example, a national multiline insurance carrier reduced environmental clean up costs by 30% by employing environmental consultants and innovative remedial strategies. Many environmental claims can be handled in-house by utilizing a five-step claims management process and providing program support for claims adjusters.

Liability for environmental damages, Insurance claims adjustment, Claims adjustment (Insurance)

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Filling Ben Franklin's shoes: new CEO of The Contributionship discusses career, industry

Article Abstract:

The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire CEO Christina T. Webber has experienced a number of changes in the insurance industry during her 13 year tenure with the company. They include the developing perception that insurance is an entitlement rather than a business and the reevaluation of insurance loss due to catastrophes.

Interview, Webber, Christina T., Philadelphia Contributionship Insurance Co.

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