Underwriting Operations Management Tools
These are companion charts that show the average minutes spent on activities and the corresponding cost.
| Underwriting Renewal Activity: Minutes per LOB Transactions | |||||||||||||
| Total | Auto | Liability | Property | ||||||||||
| Hours | Qty | Mins/ Policy | Hours | Qty | Mins/ Policy | Hours | Qty | Mins/ Policy | Hours | Qty | Mins/ Policy | ||
| Total | 105,476.5 | 26,298 | 240.6 | 45,140.0 | 6,779 | 399.5 | 8,441.0 | 4,962 | 102.1 | 51,895.5 | 14,557 | 213.9 | |
| Assisting U/W questions etc | 6,644.5 | 26,298 | 15.2 | 3,391.4 | 6,779 | 30.0 | 549.8 | 4,962 | 6.6 | 2,703.4 | 14,557 | 11.1 | |
| Contact Help Desk | 690.2 | 26,298 | 1.6 | 366.2 | 6,779 | 3.2 | 246.8 | 4,962 | 3.0 | 77.2 | 14,557 | 0.3 | |
| Index Faxes | 1,575.0 | 26,298 | 3.6 | 347.0 | 6,779 | 3.1 | 250.7 | 4,962 | 3.0 | 977.2 | 14,557 | 4.0 | |
| Review Fax Log | 2,313.4 | 26,298 | 5.3 | 1,089.4 | 6,779 | 9.6 | 343.1 | 4,962 | 4.1 | 880.9 | 14,557 | 3.6 | |
| Documentation | 34,958.6 | 26,298 | 79.8 | 14,702.9 | 6,779 | 130.1 | 3,167.3 | 4,962 | 38.3 | 17,088.3 | 14,557 | 70.4 | |
| Meetings | 455.4 | 26,298 | 1.0 | 152.5 | 6,779 | 1.3 | 225.7 | 4,962 | 2.7 | 77.2 | 14,557 | 0.3 | |
| Phone Calls | 6,852.6 | 26,298 | 15.6 | 3,457.8 | 6,779 | 30.6 | 556.8 | 4,962 | 6.7 | 2,837.9 | 14,557 | 11.7 | |
| Processing | 27,800.5 | 26,298 | 63.4 | 11,502.7 | 6,779 | 101.8 | 1,286.0 | 4,962 | 15.6 | 15,011.8 | 14,557 | 61.9 | |
| Renewal Preparation | 11,383.3 | 26,298 | 26.0 | 5,962.8 | 6,779 | 52.8 | 721.3 | 4,962 | 8.7 | 4,699.1 | 14,557 | 19.4 | |
| Review emails | 2,411.7 | 26,298 | 5.5 | 671.1 | 6,779 | 5.9 | 246.8 | 4,962 | 3.0 | 1,493.8 | 14,557 | 6.2 | |
| Review mail | 572.8 | 26,298 | 1.3 | 324.0 | 6,779 | 2.9 | 77.2 | 4,962 | 0.9 | 171.6 | 14,557 | 0.7 | |
| Training | 214.1 | 26,298 | 0.5 | 114.5 | 6,779 | 1.0 | 48.0 | 4,962 | 0.6 | 51.6 | 14,557 | 0.2 | |
| Underwriting Analysis | 8,345.5 | 26,298 | 19.0 | 2,541.1 | 6,779 | 22.5 | 646.1 | 4,962 | 7.8 | 5,158.3 | 14,557 | 21.3 | |
| Non-Transaction specific | 1,259.1 | 26,298 | 2.9 | 516.7 | 6,779 | 4.6 | 75.2 | 4,962 | 0.9 | 667.1 | 14,557 | 2.7 | |
| Underwriting Renewal Activity: $ Cost of LOB Transaction | |||||||||||||
| Total | Auto | Liability | Property | ||||||||||
| Cost | Qty | Unit Cost | Cost | Qty | Unit Cost | Cost | Qty | Unit Cost | Cost | Qty | Unit Cost | ||
| Total | 5,502,695.6 | 26,298 | 209.24 | 2,353,934.6 | 6,779 | 347.24 | 438,995.3 | 4,962 | 88.47 | 2,709,765.7 | 14,557 | 186.15 | |
| Assisting U/W questions etc | 347,243.2 | 26,298 | 13.20 | 177,234.7 | 6,779 | 26.14 | 28,730.2 | 4,962 | 5.79 | 141,278.3 | 14,557 | 9.71 | |
| Contact Help Desk | 36,068.8 | 26,298 | 1.37 | 19,135.7 | 6,779 | 2.82 | 12,898.4 | 4,962 | 2.60 | 4,034.7 | 14,557 | 0.28 | |
| Index Faxes | 82,307.3 | 26,298 | 3.13 | 18,136.7 | 6,779 | 2.68 | 13,103.1 | 4,962 | 2.64 | 51,067.5 | 14,557 | 3.51 | |
| Review Fax Log | 120,900.1 | 26,298 | 4.60 | 56,934.3 | 6,779 | 8.40 | 17,932.1 | 4,962 | 3.61 | 46,033.8 | 14,557 | 3.16 | |
| Documentation | 1,826,936.7 | 26,298 | 69.47 | 768,374.2 | 6,779 | 113.35 | 165,525.6 | 4,962 | 33.36 | 893,036.8 | 14,557 | 61.35 | |
| Meetings | 23,798.9 | 26,298 | 0.90 | 7,967.1 | 6,779 | 1.18 | 11,797.1 | 4,962 | 2.38 | 4,034.7 | 14,557 | 0.28 | |
| Phone Calls | 358,114.9 | 26,298 | 13.62 | 180,704.3 | 6,779 | 26.66 | 29,100.7 | 4,962 | 5.86 | 148,309.9 | 14,557 | 10.19 | |
| Processing | 1,452,854.3 | 26,298 | 55.25 | 601,129.0 | 6,779 | 88.68 | 67,206.3 | 4,962 | 13.54 | 784,519.1 | 14,557 | 53.89 | |
| Renewal Preparation | 594,891.7 | 26,298 | 22.62 | 311,618.5 | 6,779 | 45.97 | 37,696.2 | 4,962 | 7.60 | 245,577.0 | 14,557 | 16.87 | |
| Review emails | 126,036.1 | 26,298 | 4.79 | 35,069.8 | 6,779 | 5.17 | 12,898.4 | 4,962 | 2.60 | 78,067.9 | 14,557 | 5.36 | |
| Review mail | 29,933.8 | 26,298 | 1.14 | 16,933.1 | 6,779 | 2.50 | 4,034.7 | 4,962 | 0.81 | 8,966.0 | 14,557 | 0.62 | |
| Training | 1,677.9 | 26,298 | 0.06 | 897.2 | 6,779 | 0.13 | 376.3 | 4,962 | 0.08 | 404.5 | 14,557 | 0.03 | |
| Underwriting Analysis | 436,133.8 | 26,298 | 16.58 | 132,799.6 | 6,779 | 19.59 | 33,763.9 | 4,962 | 6.80 | 269,570.4 | 14,557 | 18.52 | |
| Non-Transaction specific | 65,798.0 | 26,298 | 2.50 | 27,000.4 | 6,779 | 3.98 | 3,932.4 | 4,962 | 0.79 | 34,865.2 | 14,557 | 2.40 | |
