Study: P/C Execs Find It Difficult to Determine Priorities
National News • January 18, 2005
Complex and challenging factors have been largely responsible for the high level of uncertainty faced by property and casualty insurers. According to a new survey, given this environment, P/C ...
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Subject: Insurance Executives lost priorities
Posted On: January 19, 2005, 1:47 pm CST
Posted By: Jimbo
Comment:
I think it is telling that this article says nothing of maintaining pricing integrity and the financial viability of the industry. While customer service is very important (it's the product - the claims process & loss prevention aspects are the only tangible products we have - that piece of paper is not the real product) without proper premium for the exposure, there will be no industry to pay the claims, or provide the services. The current crop of executives view insurance the same as a car - a commodity. Maybe they should go into another industry if they feel this way, or go back to Insurance 101. Spread of risk, proper price for the exposure, underwriting for a profit - maybe if they returned to these concepts, the other priorities might just fall into place.
Subject: Insurance Executives lost priorities