Multi-Pronged Risk Management and Protection Philosophy
Multi-pronged risk management approach for protection
1
Reducing incidence of
fraud & early claims
Analytics and Data Enrichment
Risk+
AI-ML based risk models, rule engines,
credit bureaus etc.
2
Limiting impact on
profitability & solvency
Reinsurance
Optimized reinsurance strategies for risk
transfer
3
Balancing pricing &
underwriting
Active re-pricing
4
Strong governance &
audits @Partners
TPAs & medical centers
Ongoing wherever required (mostly
applies for Group schemes)
Ensure process & quality adherence
No 'one size fits all' underwriting
Catastrophe agreement
Product boundary conditions
Dynamic classification depending on profile,
detailed medical & financial underwriting
To protect excess loss
Gate criteria depending upon sourcing
channel
Regular portfolio review
Prudent reserving
To identify emerging trends, outliers and
take corrective actions
Well provisioned to prevent sudden
shocks from current pandemic
17
Distribution partners
Adherence to best practices and
continuous monitoring of risk
Profitable
distribution
Diversified
growth
leading
Market-
Quality of
insurance
Reimagining
mix
innovation
management
Board and
HDFC
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