Pencil Whipping and the Trouble with Underwriting Risk Analyses | PropertyCasualty360

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READ: Pencil Whipping and the Trouble with Underwriting Risk Analyses

The insurance industry needs the information on which it is basing underwriting decisions to be reliable. But there is reason to believe that the reliability of check off format risk control underwriting analyses is in some cases questionable due to the phenomenon of pencil whipping.Pencil whipping leads to misunderstanding the true exposures of a book of business and of individual insureds. It limits the opportunity to improve the book of business over time because recommendations are directed at easy targets.

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