A conventional property and casualty insurance underwriting approach is not as effective as a targeted sales-oriented method for improving submission rates and increasing sales. This FS Viewpoint outlines the steps to achieving a targeted approach and describes "underwriting intensity."
Property & casualty (P&C) commercial lines insurers are recognizing that a conventional approach to underwriting where underwriters spend more time on typical underwriting activities and all submissions are treated the same way is no longer as effective as it once was.
Conversely, in a target state approach, sales-oriented underwriters’ time is spent on relationship and productivity-building activities that support acquisition and positive growth by facilitating decision making and improving service.
The move from the conventional “current state” to the desired “target state” entails a focus on “underwriting intensity" which encompasses an organization level review to help clients improve their underwriting model by: