Scientific selection and pricing of risks
The aim of insurance is to equitably transfer the risk of a loss, from the insured
to the insurer, in exchange for a premium. Although elegant in its simplicity, many
insurers fail to profitably fulfil this aim over the long term.
We do not believe in simply “hoping for the best” when it comes to the selection
and pricing of risks that we accept. In order to be successful over the longer term,
we fundamentally believe in scientifically quantifying the likelihood of claims
being made against our policies.
We have thus employed a team of actuaries and other analysts to relentlessly analyse
and review our business. The purpose of the analysis is not simply to crunch the
numbers, but rather to translate the results of such investigations into actions
that improve the profitability and competitiveness of our (and our UMA partners’)
product range as well as the value for money offered to our clients. The end result
of our analysis is often new product innovations.