Page 332 - Motor Insurance Ebook IC 72

The Insurance Times

An analysis of the claims data input highlights the
detailed information sought to be obtained on the losses.
It is a first step in the systematic recording of nature
and type of losses. All the macro level it provides a
picture of the extent of losses faced by insurers across
all categories of vehicles and sub classes.

Q. 5 Write short notes on "Underwriting Data Input."
Ans: Insurers records are not created recorded and stored
on a computerized system. The information for
underwriting has to be accurate and complete to
generate the policy document, and accounting links.
Most of the underwriting information generated as in
terms of the TAC requirements.

There will be a few deviations to incorporate the
additional underwriting features that the respective
insurer consider relevant and essential for their
underwriting practice and their record inputs will
provide for this.

Underwriting Data Input: The particulars of every
risk accepted by the insurers are obtained and can be
grouped as under:

Vehicle particulars: the class & sub class of the vehicle
eg private car or taxi , private or public use

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