While Talanx Offers Better Cost Dynamics, the Firm Lacks Pure Underwriting Competitiveness
At its core, Talanx is a business with a lower-cost position. This stems from its location in Hannover, Germany, which is a much cheaper place to live. That lower expense base has come at a price, and this has historically been visible in claims. Talanx has taken numerous actions to improve underwriting. Those actions include investment in a new piece of proprietary technology that it has termed the Underwriting Workbench, which helps underwriters run their insurance portfolios profitably. Here, individual underwriters are facilitated to meet their key performance indicators, meaning the same for the industrial insurance division.
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