Look beyond the cost base
Insurance businesses can see the cost of running an operation clearly. The potential value of a better underwriting decision is often less visible, even though it can influence a much larger part of the result.
Ask where effort can change the outcome
Simon Pollack’s perspective on efficiency and effectiveness makes the case for giving underwriting performance a central place in the business agenda. Expense reduction is one opportunity. Understanding the portfolio and improving the decisions made about it is another.
Turn the argument into a process
The practical question is where the existing book offers an opportunity and what evidence would support acting on it. A disciplined review connects that opportunity to an accountable decision, then returns to the experience to assess what happened.
Make room for the work that matters
A repeatable analytical platform can support both objectives: reduce the effort of maintaining the process and give experts more time to investigate performance, challenge assumptions and advise on action.