While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record underwriting losses.
Improving the overall quality of insured policyholders has been a major focus as auto insurers have sought to address rate needs state by state while refining risk selection and underwriting standards. As a result, 2023 numbers, despite a sizable underwriting loss, show insurers taking a deep look at their risk selection, underwriting, pricing and claim disciplines to devise initiatives to reverse the negative t