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Consumer insurers all utilize re-insurers. They essentially loan out the money to the insurance companies, they are the ones really taking on all the risk so t
by DamnYuppie 10y ago
Consumer insurers all utilize re-insurers. They essentially loan out the money to the insurance companies, they are the ones really taking on all the risk so they get all the underwriting data from the insurance companies.
- lwhalen 10y agoIs it turtles all the way down? Who insures the re-insurance companies?
- chris_va 10y agolloyds of london/private investors
- op00to 10y agoThe reinsurers give a shit about profiles about individual policyholders on the consumer level? I just can't see how that level of effort makes sense on that scale.
- chris_va 10y agoThey are the most sophisticated in the industry. They also handle something like 7T in assets. The insurance companies themselves are fairly empty pass-thru companies for a lot policy types. They all use the same forms, call centers, models, brokers. So the reinsurance companies make sure the models are good.