Ward Group conducted a survey of underwriting and policy management business practices at property and casualty insurance companies to determine the impact these business practices may have on a company’s underwriting performance. Survey responses were combined with publicly available financial data to complete this analysis. The following report summarizes the findings.
Table of Contents
- Profile of Participants
- Financial Calculations
- Calculation of Performance Measures
- Overall Benchmark Results
- High Profit Performers
- Impact of High Efficiency
- Impact of Growth
Profile fo Participants
A diverse group of 51 insurance carriers from the United States and Canada participated in the study. In order to maintain the confidentiality of the data, the names of the participants have not been disclosed. Results are calculated using the total number of participant responses to each survey topic.
- Premium volume of participants ranged from $12 million to $4.5 billion and was made up of 30 personal lines focused carriers and 21 commercial lines focused carriers.
- Benchmark groups were developed to highlight participant line of business focus, profitability, efficiency and growth.
- A complete comparison by benchmark group is provided in the appendix.