Whatever happened to the “new” direction the P&C market was supposed to take? Didn’t even Greenberg opine that underwriters should stick to responsible pricing and stop the downward spiral of a soft market by dropping prices just to increase market share? There has to be a better way to grow profits without cashflow underwriting; why bother to do any actuarial analysis at all, if pricing is based solely on competition for existing accounts? think of the salaries that could be saved thus lowering expenses…..
Whatever happened to the “new” direction the P&C market was supposed to take? Didn’t even Greenberg opine that underwriters should stick to responsible pricing and stop the downward spiral of a soft market by dropping prices just to increase market share? There has to be a better way to grow profits without cashflow underwriting; why bother to do any actuarial analysis at all, if pricing is based solely on competition for existing accounts? think of the salaries that could be saved thus lowering expenses…..