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金融学assignment:保险核保程序 Underwriting Process in Insurance

时间:2018-03-05 08:57来源 作者:英国论文网 点击联系客服: 客服:Damien
In order for the insurance companies to make profit and charge the appropriate rate for an insured, they undergo the underwriting process. Underwriting is the process in which an insurance company determines if an applicant is eligible for insurance and the rate they should charge if the applicant is eligible. In simpler words, it is a process of risk classification. The purpose of insurance underwriting is to spread risk among a pool of insured in a way that is both profitable for the insurer and fair to the customer. Insurance companies need to make a profit like many other businesses. Therefore, it doesn't make sense if they sell insurance for everyone who applies for it. They may not want to charge an excessive high rate to the customer and also it is not good for them to charge the same premium to every policyholder. "Underwriting enables the company to weed out certain applicants and to charge the remaining applicants premiums that are commensurate with their level of risk" (Conrad, Clark, Goodwin, Morse & Kane, 2011).
The underwriting process consist of evaluating several sources of an applicant and the use of complex pricing models developed by actuaries that help the insurance companies set prices. I will focus on the risk classification along with some of the factors that help the underwriters classify each applicant and the use of insurance credit scoring that allow the insurance companies to price the premiums.
Factors 因素
An insurance company usually looks at various factors during the underwriting process in order to evaluate a potential customer in terms of risk. These factors enable the insurer to determine whether or not the potential customer is insurable. If the potential customer is determined to be insurable, then these factors will help to place them in the appropriate risk group. Some of the factors considered are age, sex, health history, current health/physical condition, personal family health history, occupation, personal habits/character, financial condition, and hobbies (Clark, et al, 2011).(责任编辑:cinq)

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