Underwriting/Claims Cost & Exposure Management
In their underwriting and claims operations, insurers are faced with the opposing requirements to reduce costs while achieving improvements in underwriting and claims results and customer service.
This continuing challenge must be addressed by viewing the discrete components of underwriting and claims within the context of their interrelationship and their near and long-term cost/benefit contribution to company business objectives.
FTI Consulting Insurance & Investment Management consultants help clients meet this challenge by delivering proven methodologies and software tools to:
- Review and improve decision-making information quality and processes within the underwriting and claims value chain
- Identify and close information leakage and process gaps
- Apply underwriting pricing and diagnostics/analytics to improve underwriting and claims effectiveness and decision making
- Access business intelligence solutions to develop and track the key metrics for continuous improvement of underwriting and claims functions
- Analyse and actuarially optimise claims reserve requirements