Pacific Life Re provides a tailored suite of reinsurance services to provide an exceptional level of support in areas which can make a difference to our clients.
Underwriting and Claims
Our underwriting and claims service is centred on the provision of market-leading standards of technical support and consultancy within an open and balanced approach to doing business.
The Pacific Life Re underwriting and claims teams provide a case referral service which offers the highest levels of responsiveness and technical expertise. We work to strict service standards agreed with each client and encourage a high level of day to day dialogue between our staff and client teams.
Our Web-based underwriting guide, Ocean by Pacific Life Re, is available to our clients. Ocean provides an outstanding combination of high quality technical content and practical ease of use. It covers a comprehensive range of products and risk areas within an innovative electronic platform.
Our market-wide perspective enables us to offer credible benchmarking and consultancy to clients in relation to the optimisation of underwriting and claims processes. This activity may incorporate analysis of the utilisation of different types of medical evidence, underlying philosophy, or the design of the process itself.
Product development and innovation
We work to understand our clients' risk appetite and desire to differentiate from other products available in the market. Our flexible and innovative approach towards product development, together with our extensive insurance and reinsurance experience, make us an excellent partner to work with on all new product development initiatives. We look to use a multi-disciplinary approach utilising our team of experienced underwriters and actuaries to give balanced and informed input to all aspects of the product design and process. We have an established track record on product innovation which is recognized by our clients and other industry professionals.
Experience analysis, research and risk management
Our own pricing is based on a considered blend of relevant experience analysis and research into future trends in mortality and disability.
We are open in sharing our pricing techniques to assist our clients to better understand their claims experience and extract maximum value from the data available by identifying patterns, trends and differences from the norm. Working closely with our own underwriters and claims team, we provide tailored feedback which can help clients gain a deeper insight to their own business. This may then lead to changes in business practices or the identification of opportunities to enhance overall office premium pricing.
We seek to unravel the complexities of insurance risk through appropriate research supported by a wide range of sources. This enables better understanding of the likelihood and impact of a range of possible outcomes, and the potential implications for client portfolios. We can share our findings with clients in support of their own scenario analyses, and help them optimise their own capital and risk positions. For instance, our work in understanding longevity risk enables us to enhance our clients' own insights and supports the development of innovative and capital efficient solutions. |