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3 Ways to Improve the Underwriting Process for any Insurance Business fecundservices.com

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Ayush Sood Ayush Sood 8 months ago in Business 0

The purpose of underwriting is to accept liability for possible losses to the customers of the insurance business. The process aims at estimating the risk involved with insuring a potential policyholder. It consists of reviewing applications for new or renewing policyholders and calculating the risks with insuring a person or an asset, along with the premium payable for the coverage sought.

As underwriting has to ascertain the risk involved for the insurance, it has a very significant role to play. It serves an essential function of assessing the degree of risk, helping investor decisions, calculating the appropriate premium amount, ensuring proper coverage, and a lot more.

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