Responsible underwriting Responsible underwriting stands for We all know that profit is king. This entails underwriting quality. Quality underwriting using internal and external data sources aims to move corporate practices away alongside sophisticated and ethical modeling from underwriting volumes for the sake of techniques to evaluate exposure, whether it volumes or to acquire market share for the be climate, weather events, and catastrophic sake of market share to move towards more loss, to ensure a more accurate evaluation of responsible practices. risk across different categories, product lines, “New practices that ingest and territories. more relevant data sources are Responsible underwriting is about planning for a resilient future where we can better increasingly associated with protect vulnerable communities from current individual and segmented risk and emerging risks. Responsible underwriting profiling and pricing. Today, benefits insurers and reinsurers while also fundamentally improving our ability to deliver many insurers and reinsurers the core principles of insurance - to protect recognize even more strongly customers and society. that they must manage risk Take, for example, the impact of flood through strong underwriting risk. Such risk is not insignificant in today’s disciplines and deploy consistent society. In recent months, we have seen more dry days on average on earth, but pricing and risk selection when there’s a wet day, the intensity is more procedures to reduce losses pronounced. across lines.” Deana Murfitt Artificial