Use Case
Conflicting Decisions
Problem Statement
- Multiple underwriters in an insurance company were doing triage differently.
- This bias meant that some extra risk was entering the company and some potentially profitable policies were rejected.
- Inconsistency in these decisions made it harder to manage the underwriting in general.
Our Solution
- Each of the underwriters captured their decision approach in a Sue model over three 2-hour sessions.
- They then had a joint meeting to discuss all their differences and decide a single approach for the company.
- This unified approach was modified monthly based on new information.
Metrics Gathered
- Variation of pricing and acceptance between underwriters was measured.
- Loss ratios over time were calculated.
- Profitability per policy was monitored.
Success and Improvements
- The company had a unified approach to acceptance as a result of an automated Sue process that is completely consistent.
- Client satisfaction improved as fairness and consistency increased.
- Profitability was stabilized and claims reduced.
Implementation Timeline
- Monthly ongoing meetings after an average 6 week creation period.
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Any discretionary decision in any company on pricing or acceptance can be improved with Sue including HR and staff selection, loan approval, machinery repair timing…
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