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U/W sample of Policies/ Case studies (QUESTIONS (What to look for in…
U/W sample of Policies/ Case studies
POLICIES IN CC
P00051143
P00050791
P00051527
P00052646
P00051124
QUESTIONS
How to ID an 'offshore' entry?
Loss Ratio?
60% means 60-cent loss on the dollar
Ideally want to be around 40%
Important docs:
Meridian reports
APRAH report
Most reports will be similar
Scheme
S&S won't do schemes
TBC
Agreement with an Asso for their members
What to look for in ClaimCtr?
Most PI claims are allegations
Legal fees
Compensation payouts
Mostly Professional Insurance
Look at reports
Loss ratio
Frequency / trend
Consider Special Conditions:
eg. excess/ loading/ risk managt/ decline...
#
Load?
Increase Premium
AUTO Referral triggered by
Increased Loss Ratio >40%
Number of Claims
Reducing Loss ration back <40%
May happen over 5yrs
Must be done to become/ stay profitable
Premium Pool?
When multiple location/ offices insured
If multiple claims are made - it may still remain <40% due to Premium Pool absorbing
SME market?
Small & Medium Enterprise
SANDRA DOCS
Sandra working on referral tree
document to be shared
TBC by
Recommended UW Matrix
Defintions
Examples
Kurt helping out U/W
Good skills. Lvl 6
Processes
Referral escalation based on
Authority Level
How comfortable agent is
Asking advice to higher authority level
Notes are used to explain outcome to client
i.e. when excess is applied
Ways of Following a case
Successive notes in CC
Mail trail
Escalation or advising of Product Manager
When doing any of these:
Product Manager Sign-off
Client partnership informed
Product Manger + Portfolio Mangrs
Review
portfolio
as a whole
Look into Tableau for the trend
Search data around particular market
Possibly Google search
if lots of claims under 1 particular Policy
Case
: Optom in Toorak with multiple break-ins
Can't tell practice to install alarms
Preserve the Toorak neighbourhood 'image'