Scott Collings

New industry publication Understanding Value in General Insurance was launched yesterday by actuarial firm Finity Consulting Pty Ltd and The Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

Created by the industry’s leading insurance experts, the Understanding Value in General Insurance guide is designed to equip directors and senior insurance professionals with a deeper understanding of insurance businesses.

Previously titled Creating Value in General Insurance, the publication has been updated to include current external trends including Insurtech, which draws on technological innovation to realise additional value from the insurance business model.

‘ANZIIF is again pleased to partner with Finity to release the latest edition of Understanding Value in General Insurance. Since it was first published, the publication has assisted senior management navigate confidently in this dynamic industry and support them in leading a general insurance business. We hope the guide provides value to senior management and supports them as industry leaders’, says Prue Willsford, Chief Executive Officer at ANZIIF.

‘Created with directors and senior insurance people in mind, this publication is designed to reinforce understanding of the foundations of general insurance. The guide will be especially useful for senior business leaders who are new to the industry, providing them with key insights into the nature of the general insurance business and its key value drivers. It is far from being a theoretical textbook however, it has a strong focus on practical examples illustrating how insurance leaders can navigate the inherent uncertainty in general insurance and make sound, fact-based strategic decisions’, says Scott Collings, Managing Director at Finity.

The guide explores the key drivers of value creation across four distinct chapters:

1. Premium revenue generation
2. Operational cost management
3. Capital and solvency management
4. Business environment management.

First published in 2007, the latest edition of Understanding Value in General Insurance will be available for purchase here at  for RRP: $50.00 and will be on sale from Wednesday 1 November 2017.

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