What is insurance value chain

The value chain, or Porter's value chain, captures the share value activities of the underwriter and the broker as a case in point. The goal is to obtain competitive advantage based on four elements: operational efficiency; product leadership; customer intimacy; and, if possible, system lock-in of the customer.

What is chain insurance?

Supply Chain Insurance is meant to cover financial losses you incur as a result of an interruption to your supply chain. Such coverage allows you to work confidently with suppliers who face exposures beyond your control.

What is a value proposition in insurance?

In the game of insurance (or any industry, for that matter) a value proposition is a clear statement that explains how your product solves the customers' problems or improves their situation. If done correctly, it can completely transform the profitability (prospect-to-close ratio) of your business.

What does it mean to underwrite an insurance policy?

Before an insurance company can accept your application for coverage, they analyze your personal, financial, and medical details. Then, they calculate the level of risk you present to their business, also known as a risk score. This process is called underwriting.

What does distribution mean in insurance?

Insurance distribution means to sell, propose to sell, advise on or prepare in any other way the conclusion of insurance contracts. It also covers sales of insurance products through websites, including comparison websites if they allow concluding an insurance contract.