A THEORETICAL CONCEPTUALIZATION OF UNDERWRITING IN INSURANCE

Abstract

In the article existing economic literature approaches to interpretation of essence of insurance underwriting are analyzed and summarized. The importance of the selection of risks to the effectiveness of underwriting is clarified. The need to achieve underwriting profitability based on the background of an acceptable risk level of the insurance portfolio and the maintenance of financial stability of the insurance company is stressed. The set of business processes of underwriting is systematized. The author ‘s vision of the essence of insurance underwriting is offered