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The Efficiency Mantra

Improving underwriting efficiency tops the to-do checklists of carriers in both personal and commercial lines.

By Michael P. Voelker | Updated on September 03, 2012
Faster, better, cheaper.

That was the approach to development pioneered by former NASA director Daniel Saul Goldin in 1992, and it became a mantra of organizations across many industries. Over the past 20 years, that approach has seen both success and failure. Its failures have led to controversy, and even some ridicule. (“Faster, better, cheaper: pick any two.”)

Yet despite the challenges of successfully achieving this trifecta of performance, insurers are targeting faster, better, and cheaper in their drive for underwriting efficiency.

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