It’s also to keep us focus on what we are good at and what we’re not good at, and businesses and activities where underwriting is the differentiator. We are not looking to be in businesses that are heavily process oriented or that require large scale management of direct sales forces or of claims personnel. We are a small company that is focused on bringing very complex risk solutions to our clients.
Our strategy to achieve the mission, vision and identity is to employ an integrated system of competitive advantages to match risk and capital. As such, when we say we are inspired to be the best underwriter that implies a broad based expertise in nearly everything we do. You can’t be the best underwriter without consummate expertise in risk, analytics, modeling, finance, marketing and so on.
So this is how we think about our business and our competitive advantages. And in each annual report we try to write down our thoughts on a particular subject, we think should be of interest to our shareholders.
In our last three annual reports we’ve focused on what we believe our three key competitive advantages, superior customer relationships, superior risk selection and superior capital management.I suspect we are probably best known for the second one, superior risk selection and portfolio construction, but I think in essence one of the ones that is least well understood is the importance of superior customer relationships. In pursued to being the best underwriter we believe the only way to do that is by operating this competitive advantages as an integrated system. Having the best cap model where an underwriters in the world doesn’t matter if he can’t source the business that you want to underwrite. And similarly, our reputation as a firm, where we can share risk, weather and underwriter insights to our clients, as well as our ability to bring efficient capital to bear enhances our ability to source business. Read the rest of this transcript for free on seekingalpha.com
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