Lloyd's CEO urges insurers to focus on risk knowledge rather than pricing
Focusing on price is not sustainable because insurers should instead understand exposure and how to price it
Singapore
AS underwriting profits decline, insurers need to focus on deepening their understanding of risks and improving their risk models to ensure the sector's sustainability, Lloyd's chief executive has said.
The call by Ms Inga Beale comes on the back of a squeeze on underwriting profits in the sector, which has triggered competitive pressure and directed much attention to risk pricing.
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