995: Strategic underwriting
Coursework – assignment 2
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Assignment 2
You are the Chief Underwriting Officer (CUO) for TX plc, a global commercial and personal lines insurer with
offices worldwide. The majority of its business is distributed through brokers, with good service being an
integral part of its offering. In recent years, TX plc has won several ’employer of the year’ awards.
TX plc’s planned growth and profitability has been adversely impacted as a result of a pandemic. This
pandemic has resulted in changes to TX plc’s business, as follows:
• Fewer commercial policyholders, caused by a significant number of businesses closing.
• An increase in debt, due to late payment or non-payment of policyholders’ premiums.
• A reduction in the amount of cover required and reduced uptake of policy add-ons.
• A loss of personal lines policyholders to competitors offering lower premiums.
Other changes to TX plc’s business include employees primarily working from their homes. This has resulted
in the following:
• More efficient processing and fewer errors when drafting policy wordings.
• Decreased employee interaction and morale.
• Limited training and development of underwriters.
• Reduced opportunities for knowledge sharing.
As a result of the pandemic, the Board of TX plc has asked you to consider how TX plc can effectively
manage this reduction in growth and profitability, whilst ensuring an efficient and satisfied workforce.
Question
• Explain briefly, three significant strategic underwriting issues that have arisen from the changes to TX
plc’s business, as a result of the pandemic.
• Analyse the extent to which these significant strategic underwriting issues are being managed to ensure
growth and profitability.
• Recommend, based on your analysis, how TX plc should manage these strategic underwriting issues to
ensure growth and profitability.
995/2022 995: Strategic underwriting 2
Copyright © 2022 The Chartered Insurance Institute. All rights reserved.

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