As featured in Carrier Management:
Adequate rate maintenance is the cornerstone of an insurance carrier’s profitability, solvency, and overall business health. Since there is a clear and traceable relationship between policy premiums and claims payments, the end result goes straight to a carrier’s bottom line. Maintaining appropriate rates is about more than just being able to pay out on claims. It’s about structuring an insurance business to meet future growth goals. The danger is that, without careful monitoring, indications of inadequate rate might not show up immediately, but can have disastrous consequences in the future when the damage has been done and it is already too late.
Read the full article on Carrier Management.