7P Framework: Determining the Premium for an Insurance

Business Insurance > Forum Log in

7P Framework: Determining the Premium for an Insurance
Kailash Chandra Mishra, Management Consultant, India, Member
Underwriting is the reconciliation of a risk price with reference to a standard price, which is commonly known as premium in insurance.
The 7 Ps of Underwriting for pricing or premium rating:
P1 Place (Geographical distribution of risk)
P2 Period (Timing of risk - frequency and severity)
P3 Property / proportioned liability (Mitigable finite value of property or casuality risk)
P4 Peril (single or multiple branded risks)
P5 Person (Propensity of moral hazard)
P6 Portion (Layer of risk)
P7 PAD (Provision for adverse deviation)...



Special Interest Group Leader

Business Insurance
Best Practices

Expert Tips


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2018 12manage - The Executive Fast Track. V14.1 - Last updated: 19-10-2018. All names of their owners.