Posted: October 4th, 2022

995: Strategic underwriting

995: Strategic underwriting
Coursework – task 2
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Project 2
You’re the Chief Underwriting Officer (CUO) for TX plc, a world business and private strains insurer with
places of work worldwide. Nearly all of its enterprise is distributed by brokers, with good service being an
integral a part of its providing. In recent times, TX plc has gained a number of ’employer of the yr’ awards.
TX plc’s deliberate progress and profitability has been adversely impacted because of a pandemic. This
pandemic has resulted in modifications to TX plc’s enterprise, as follows:
• Fewer business policyholders, attributable to a major variety of companies closing.
• A rise in debt, as a consequence of late cost or non-payment of policyholders’ premiums.
• A discount within the quantity of canopy required and decreased uptake of coverage add-ons.
• A lack of private strains policyholders to rivals providing decrease premiums.
Different modifications to TX plc’s enterprise embody workers primarily working from their properties. This has resulted
within the following:
• Extra environment friendly processing and fewer errors when drafting coverage wordings.
• Decreased worker interplay and morale.
• Restricted coaching and improvement of underwriters.
• Lowered alternatives for data sharing.
Because of the pandemic, the Board of TX plc has requested you to think about how TX plc can successfully
handle this discount in progress and profitability, while guaranteeing an environment friendly and happy workforce.
Question Assignment
• Clarify briefly, three vital strategic underwriting points which have arisen from the modifications to TX
plc’s enterprise, because of the pandemic.
• Analyse the extent to which these vital strategic underwriting points are being managed to make sure
progress and profitability.
• Suggest, based mostly in your Assessment, how TX plc ought to handle these strategic underwriting points to
guarantee progress and profitability.
995/2022 995: Strategic underwriting 2
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