Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information on how we use and manage cookies please take a look at our privacy and cookie policies. Some parts of the site may not work properly if you choose not to accept cookies.

sections
Home > FICO > New Strategies for Smarter Insurance Underwriting Using Business Rules
 

New Strategies for Smarter Insurance Underwriting Using Business Rules

White Paper Published By: FICO
FICO
Published:  Aug 27, 2012
Type:  White Paper
Length:  13 pages

The profitability of your underwriting decisions is based on how well you can predict potential risks and revenue. The underwriting strategies you implement affect policy approval rates, premiums, tier distribution, customer retention, loss ratios and much more. Successful strategies win you the right kinds of business from the right kinds of policy holders. Poor strategies put you at a competitive disadvantage and reduce your bottom line.

In this white paper, FICO shares strategies to optimize insurance decisioning through the use of business rules management, predictive modeling, mathematical optimization and decision analysis.

By downloading this white paper, you will:

  • Gain an overview of an iterative approach to managing and optimizing underwriting strategies
  • Learn how insurance industry leaders make consistent underwriting decisions in real time
  • Understand how optimized strategies can be designed to improve key metrics like profit and response; allowing you to identify the best action every time 



Tags : 
cost control, underwriting, insurance, pos, point of sale, revenue generation, analytics, decision management