An Underwriting Pricing Optimization Approach For Commercial Lines

Insurance pricing uses the Loss cost or exposure as the base mechanism. This is usually performed by actuaries as a point estimate to develop base rates and have follow up mechanisms to keep the rates updated as the cost of the risk transfer changes. Typically, the base premiums get adjusted to derive final premiums due to various internal and external factors. Price optimization is the process that describes the various techniques and factors that result in an amended premium.


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