Good day
The question is asking about differences in pure risk premium. I can understand 1, 6 and 5 (assuming 5 refers to the website having more accurate pricing) affecting assessments of the riskiness of clients. The others not so much eg 2 and 3 are more about the final/total premium charged rather than the pure risk premium to meet the expected cost of claims. I am struggling with 4 because without further information it's not clear what the point is.
I hasten to add I don't know which points scored but my general take is that you have a new distribution channel that leads to a possible different target (geographical, socio-economic group etc) market which may have different risk characteristics (driving experience, value of vehicles, where car is driven etc) compared to the current insureds either as a result of different channel processes (underwriting, control of sales process etc), and genuine risk profile differences leading to different expected claims experiences and any related uncertainty.
Last edited: Dec 11, 2022