With today’s increasing risk factors, every business should have a property and casualty insurance program. Property and casualty (P&C) actuarial reserving functions face increasing pressures because every business is exposed to risk. In order to overcome such challenges, the first step is to analyze what type of property and casualty policies are right for your businessto provide insightful business intelligence.

In general, P&C insurance focuses protection in two areas :

First party coverage: Insurance to protect against damage to physical items such as buildings (including the contents, stock, and equipment within them) and owned vehicles

Third party coverage:

Protection against legal liability for physical body injury and property damage to a third party arising out of a business’ operations or products.

SPB’s P&C Insurance Solutions

Unlike other insurance service providers who will try and pigeonhole you into using their software regardless of your needs, SPB Corp’s current state of actuarial reserving practices and effectiveness helps to better understand organizational challenges and identify solutions to them. Our complete range of integrated/upgradable products for any sized agency or budget, along with experienced group of professionals who have deep knowledge of the indicators of agency valuation, delivering value proposition for niche markets.We possess a unique combination of data, research and resources providing guidance in most critical parts of your business which can be applied to every engagement enabling end-to-end process effectiveness and business partnering effectiveness.

Benefits

• Quickly allow an insurance company to accept electronic applications
• Quickly increase application completion percentages
• Reliably move underwriting activity to the point of sale across multiple distribution channels
• Increase operational efficiency through electronic workflow, “once-and-done” data collection, and automation-assisted decisions
• Increase agent production by allowing agents to spend more time selling insurance and minimal time on administrative tasks
• Decrease policy portfolio risk by consistently applying underwriting rules
• Reduce end-to-end application cycle time
• Increase underwriter efficiency and underwriting quality
• Increase automated adjudication of insurance applications
• Allow more granular risk classifications
• Allow efficient support of standard and alternative insurance distribution channels
• Ability to quickly change and enforce underwriting guidelines