Determine the level of risk presented by the proposer and the underwriting process of deciding whether to accept and what the rules are and what he did.
It is necessary for all types if insurance underwriting. Understanding the concept of risk sharing or pooling it easier to understand the role of underwriting and asset classification makes.Life Insurance,underwriting of a healthy person and a ill person will never be the same.
Importance of Underwriting Insurance.
For insurance companies,underwriting,competitive solvent and helps insurers to remain profitable.
For Insurance,the premium required for insurance coverage can be determined only in underwriting insurer,it is important for underwriting insurer.Underwriting risk and suggest measures to be taken to reduce risks.
Agent and Brokers,brokers often offer customers tailor-made solutions are involved.Such a possibility can be seen through underwriting and may not be the solution to the customer.
Society: Underwriting the country's economic and social goals of safety and care and helps to improve standards of achievement.
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