We’re delighted to have partnered with the Chartered Insurance Institute once again for a webinar exploring one of the insurance industry’s most fundamental questions: Is there really such a thing as a bad risk?
The discussion challenged traditional thinking around risk selection and examined whether some customers are excluded because they represent an unacceptable risk or because existing models, data and processes do not provide a complete picture.
Building on themes from our previous webinar on financial vulnerability and payment-based exclusion, the session explored how insurers can improve decision-making by better understanding the risks they assess.
Key topics included:
- Why declining cover often shifts risk rather than reduces it
- How rigid underwriting rules can misclassify customers
- Using data enrichment to improve risk assessment
- Aligning pricing, underwriting and product design for smarter risk selection
At Angelica Solutions, we believe there is often a difference between a bad risk and a poorly understood risk. As data and analytics continue to evolve, insurers have an opportunity to look beyond traditional assumptions and make more informed decisions that benefit both customers and businesses.
The recording is available to download: