The insurance product is homogeneous in the eyes of the customer. Resulting in a market that is increasingly premium driven and in which consumers choices are heavily influenced by comparison websites. To grow the volume of your portfolio it is essential to make the consumer a competitive offer. This solution predicts your market position and determines an optimal premium on an individual level based on price elasticity.
Data driven underwriting is a powerful and proven combination of the solutions Portfolio Forecasting, Dynamic Pricing and Customer Segmentation. This solution empowers insurers to closely monitor and steer the performance of thier portfolio, by setting premiums based on individual risk.