US Re has developed a new web portal to help insurers identify the cost drivers of their reinsurance cover.
The portal enables insurers to isolate their worst performers, identify areas of over concentration that contribute to extended exposure and analyze portfolios to seek out profitable areas to expand writings.
“By identifying the worst performers, this tool enables insurers to formulate new underwriting guidelines so these same policies don’t come back into the portfolio,” said Scott Polkhinghorne, senior vice president at US Re.
“Likewise, companies will be able to identify profitable segments and formulate strategies to get more of this business.”
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US Re, cost drivers