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Underwriting & Policy Lifecycle
A policy from product design and pricing through the quote, issue, premium and renewal.
1.1Design the productcompetitive-analysis1 wanted
Coverage, exclusions, target customers.
- Delivers
- Product specification
- Led by
- Underwriter · with Actuary, Compliance & special investigations
- Wanted
policy-wording-comparison Compare policy wordings clause by clause.
1.2Set rates1 wanted
Price from loss experience and expenses; file where required.
- Delivers
- Rate table
- Led by
- Actuary · with Underwriter
- Wanted
pricing-analysis Derive indicated rates from loss experience, trend and expenses.