New industry publication Understanding Value in General Insurance was launched today by actuarial firm Finity Consulting and The Australian and New Zealand Institute of Insurance and Finance (ANZIIF).
The book is designed to equip directors and senior insurance professionals with knowledge and insights on how insurance businesses operate. It is also useful for those who are new to the industry, to give them a greater understanding of the nature of the insurance business and key trends.
This guide was last published in 2010 under the title 'Creating Value in General Insurance'. There are several key updates to this edition, including customer and distribution management, and a more comprehensive coverage of external trends.
“ANZIIF is again pleased to partner with Finity to release the latest edition of Understanding Value in General Insurance. Since it was first published, the publication has assisted senior management navigate confidently in this dynamic industry and support them in leading a general insurance business. We hope the guide provides value to senior management and supports them as industry leaders”, says Prue Willsford, Chief Executive Officer at ANZIIF.
"Created with directors and senior insurance people in mind, this publication is designed to reinforce understanding of the foundations of general insurance. The guide will be especially useful for senior business leaders who are new to the industry, providing them with key insights into the nature of the general insurance business and its key value drivers. It is far from being a theoretical textbook however, it has a strong focus on practical examples illustrating how insurance leaders can navigate the inherent uncertainty in general insurance and make sound, fact-based strategic decisions”, says Scott Collings, Managing Director at Finity.
The guide explores the key drivers of value creation across four distinct chapters:
- Premium revenue generation
- Operational cost management
- Capital and solvency management
- Business environment management.
Key components of the Guide can be tailored to your individual Board needs in a half or full day workshop.
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