Insurance underwriting involves measuring risk exposure and determining the premium that needs to be charged to insure that risk. Underwriting offers insurers the opportunity to reduce costs and enhance performance through better decision support and more efficient processes. In the life insurance industry, inefficient underwriting processes often impede new business acquisition and drive up home office expense. The companies these days are striving to support better, more consistent underwriting decisions and more efficient processes, delivering measurable, bottom-line improvements.
Today's insurance companies are increasingly eager to maintain high levels of growth and profitability, regardless of changing market conditions. This calls for investments in new capabilities that can help insurers sustain high performance even as the market shifts. It is a fact that fluctuations of every sort ultimately affect the fate of insurers, changes in economies and in government regulations, weather related catastrophes and the new breed of business-related catastrophes. The underwriting function has traditionally steered insurers through these market fluctuations.
In United States, insurance is one industry which has experienced dramatic changes as companies strive to offer competitive products and services. Among the companies that have survived and withstood the change in market include Deep South Holding, led by
David Disiere as its Chief Executive Officer, which has consistently responded to these changes through innovation in product offerings, organization and technology.