Cost automation will help companies manage and minimize their risk and thus improve their bottom line.
With this offer we can present solid models founded on statistic and data mining principals.
The underwriting team can be focus now only on the commercial side of the cost, and the way we mutualized the risk, and not on the GLM secrete sauce choices.
A portfolio to be balanced must have the right mutualisation/risk factors and weights.
As time goes by, is necessary to consider the balance between the risk factors that were considered at the beginning and the ones that are been performed.
The cost monitoring provides a dashboard for underwriting control.
Reinsurance can provide temporary financial help during a time when underwriting is unprofitable because of intense competition or because of an increase in frequency or size of claims.
BUT HOW CAN REINSURERS KNOW THE DIFFERENCE BETWEEN THE TWO? Since our algorithms can capture the price models of the competition we can use this information to measure the heat of the market. We will create an index that will measure the price competition. More, this heat measure will not be a qualitative measure or an judgmental index. it will be a precise measure.
The Lazarus product enables insurance companies to recover customers by presenting a competitive pricing (market pricing)
The idea is simple: An insurer can ask previous profitable customers where they are now (in some countries this is public information).
With market price is possible to know the price practiced by the competitive set and with the value based pricing it is possible to know the elasticities.
The result will be an optimized price that maximizes sales or the margin for each customer. With the reasonable assumptions (and not counting the fees of Data XL), is possible to have a credible return of the marketing investment of more than 30% in the application of this product.
SME clients have too many and micro insurance issues that a general broker/agent cannot address in a professional way. We can setup predictive analytic tools to anticipate the client needs and offer the right products: combination of coverages, capitals, deductibles, etc.
Our solution is an APP (or an API solution) that can be delivered to an agent/broker. The Output will be optimal product(s)/price. This product can also be applied to Mified 2 requirements.
Banks and Insurers can only sell risky products if the client knows the risk and is willing to buy. But how to validate this willingness to buy?
The MIFID 2 & Insurance Distributing Directive demands that clients are classified in different clusters and that financial institutions can present to their clients (risky) products according to their risk appetite. Our algorithms can define the clusters and classify the customer in a fast and easy to use survey.
This product allows insurers to define the best price to cure an ailing portfolio. The output is a definition of a renewal price at an individual level. Our platform will identify non-performing segments within a portfolio and define a set of rules that will boost underwriting results.
We can help retail brokers and agents optimize their commissions by meaning the relative price that appears in the different products.
This is specially useful for the bancassurance operations (or aggregators), where a small increase on prices can create a revenue windfall.
Our solution is an API that creates that has as an input the prices of the different products, the comission rules and past experiences.
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