Hi Ravi Thanks for this wonderful session. I have a query here, when you are stating term 'over placed' is it analogy to term 'Over Insurance' in standard insurance terminology. As I can understand broker is signing down means assessing actual MPL?
Thanks for your message Himanshu. Well "Over Insurance" is close at the conceptual level but not sure how MPL will play here.
Typically in Lloyd's scenario, the broker approaches further underwriters to fulfill the client’s total order. These multi-line arrangements are known as ‘subscription’ placements with the leading underwriter acting for the following market in certain matters. Risks are sometimes ‘over-placed’ with written lines (shares accepted by individual syndicates) totaling more than required for the client’s order. In this case, the broker will reduce the ‘written lines’ (usually each proportionately) to total the client’s order (referred to as ‘signing down’) and will initiate the accounting process. Hope it is clear now.
Fantastic session . Keep them coming
Quite insightful.... Thank you for the effort
Thanks. Hope you have gained something from the presentation.
Very helpful ❤
Great video. Do you know what the difference is between "percentage of whole" and "percentage of order" on these insurance slips?
Sir kindly drop the links of your previous videos in description also so that it will be easy for us to watch your previous and related videos
Sure. Will keep in mind. Thanks for the feedback and suggestion.
Thank you sir.. and also it would be a great help if you teach us business analyst process in insurance domain
very well explained
Thanks Om. I am glad that you are liking it.
Hi Ravi
Thanks for this wonderful session.
I have a query here, when you are stating term 'over placed' is it analogy to term 'Over Insurance' in standard insurance terminology. As I can understand broker is signing down means assessing actual MPL?
Thanks for your message Himanshu. Well "Over Insurance" is close at the conceptual level but not sure how MPL will play here.
Typically in Lloyd's scenario, the broker approaches further underwriters to fulfill the client’s total order. These multi-line arrangements are known as ‘subscription’ placements with the leading underwriter acting for the following market in certain matters.
Risks are sometimes ‘over-placed’ with written lines (shares accepted by individual syndicates) totaling more than required for the client’s order. In this case, the broker will reduce the ‘written lines’ (usually each proportionately) to total the client’s order (referred to as ‘signing down’) and will initiate the accounting process.
Hope it is clear now.
Hi Ravi
I want to know about XChanging procedure and nomenclature used for transactions type like NAP,APM
been quite helpful
kindly provide a link to your LinkedIn profile in the description box as I was not able to find it from the detail provided in the video
Hi Krishna. Thanks for your message. You can connect me @ www.linkedin.com/in/ravissharma/