NO.PZ201812170100000106
问题如下:
Based on Exhibit 1, Smith should conclude that the insurer with the most efficient underwriting operation is:
选项:
A.Insurer A.
B.Insurer B.
C.Insurer C.
解释:
C is correct.
The combined ratio, which is the sum of the underwriting expense ratio and the loss and loss adjustment expense ratio, is a measure of the efficiency of an underwriting operation. A combined ratio of less than 100% is considered efficient; a combined ratio greater than 100% indicates an underwriting loss. Insurer C is the only insurer that has a combined ratio less than 100%.
解析:
考点:Analysis of Financial Institutions - An Insurance Company - Property and Casualty Insurance Companies - Earnings Characteristics
题目问哪家公司的 underwriting operation 承保业务效率最高。首先明确需要看的指标是 the combined ratio ( underwriting expense ratio + loss and loss adjustment expense ratio)
其次,combined ratio 越低越好;低于 100% 的 combined ratio 代表有效率,大于 100% 的 combined ratio 说明收到的保费无法覆盖运营成本及理赔支出,说明保险公司的业务做的不好,在赔钱。
所以根据数据,Insurer C 的 combined ratio 最低,选 C
Johansson 强调获得新保费的效率,主要看的是选项 C underwriting expense ratio 运营费用率(运营费用 / 净保费),衡量的是每获得一块钱的保费,需要付出去多少运营成本(销售人员佣金、工资等)