Underwriting

Underwriting is becoming much more sophisticated. It's a transformation opening up opportunities like never before. It's also encountering challenges like never before, and as we saw with price walking, the impact can be immense. These posts give you an independent perspective on such developments.

163 posts

Warning - don't let Fees turn into Expense Optimisation

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Underwriting • 8 min read

Warning - don't let Fees turn into Expense Optimisation

Retail insurers and brokers now charge all sorts of fees across the policy lifecycle. Innocuous on the outside, they raise distinct ethical questions when examined more closely. They also prepare the way for more pernicious practices like expense optimisation.…

Duncan Minty • 21 Apr 2023

Discriminatory Pricing – the Storm Clouds Move Nearer

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Discrimination • 8 min read

Discriminatory Pricing – the Storm Clouds Move Nearer

Further research into discriminatory pricing in UK motor insurance is keeping up pressure on insurers and the regulator to tackle the issue. And with signs that the challenge is evolving, insurers are in danger of failing to see how this issue will grow and impact the heart of their businesses.…

Duncan Minty • 10 Apr 2023

Insurers have a window to improve decisions around mental health

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Underwriting • 4 min read

Insurers have a window to improve decisions around mental health

The second strand of the Money and Mental Health Policy Institute’s campaign about travel insurance has emerged. Their best practice guide makes sense and insurers should welcome it. At the same time, it is likely to be a step towards a third strand, which will be much more impactful.…

Duncan Minty • 31 Mar 2023

The Poverty Premium could drive more Commission Transparency

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Fairness • 4 min read

The Poverty Premium could drive more Commission Transparency

People on low incomes pay a poverty premium for their insurance. It comes in two forms – the premium for their policy and the finance for paying premiums monthly. The annual figures are £300 and £160 respectively. So why does premium finance add on over a half more?…

Duncan Minty • 28 Mar 2023

Have EU insurers been Let Off the Hook on Pricing Practices

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Underwriting • 5 min read

Have EU insurers been Let Off the Hook on Pricing Practices

The EU insurance regulator has issued a supervisory statement on differential pricing practices. It illustrates just how much expectation and tension is still present around how personal and SME policies are priced. Their message is naturally high level, so what sort of impact will it have?…

Duncan Minty • 22 Mar 2023

Regulatory guidance on discrimination for Australian insurers

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Discrimination • 7 min read

Regulatory guidance on discrimination for Australian insurers

The Australian Human Rights Commission issued guidance last month about discrimination in insurance pricing and underwriting. Its strength lies in the ‘lines of thinking’ that it encourages insurers to follow, yet there are some curious interpretations that raise concerns.…

Duncan Minty • 11 Jan 2023

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Underwriting • 4 min read

Are Politicians Ready for Wind Re?

The development by insurers of individualised flood underwriting capabilities lead to negotiations with UK politicians and civil society for a fairer arrangement. The result was Flood Re. Now insurers are developing similar underwriting capabilities for wind risk. What does this point to?…

Duncan Minty • 12 Dec 2022

Grim Findings for Insurers’ Digital Strategies

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Data Ethics • 4 min read

Grim Findings for Insurers’ Digital Strategies

A survey by Policygenius about insurance and technology has found that more than 6 in 10 US consumers would not install data-sharing devices for any discount amount. Where does this leave the sector’s proponents of ‘ecospheres of prevention’ and usage based insurance? I explore the implications.…

Duncan Minty • 06 Dec 2022

Challenges Emerge for Insurance and Wellness Products

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Underwriting • 4 min read

Challenges Emerge for Insurance and Wellness Products

‘Moving beyond insurance’ is a popular digital trend across many markets. Why just deal with losses when you can prevent claims, goes the narrative. Yet one regulatory move means insurers will soon have to design and sell their cover / wellness combination with great care.…

Duncan Minty • 21 Oct 2022