PREMIUM OPTIMIZATION ASSISTANT

Premium Optimization Assistant is a powerful solution that empowers insurance companies to be in control of their portfolio. By combining individual risk predictions with predictions of other factors influencing demand, such as conversion, loyalty and churn you are able to determine premiums on an individual level. And steer the performance of your portfolio and different insurance products in terms of Loss Ratio or Combined Ratio accordingly. Considering the insurance industry is mainly premium driven, premium is key. Predict your market position on comparison websites for every price point to attract the right customers and control for the volume of your and your underwriters portfolios.

Conversion

Predicts the probability that an individual will convert on a specific offer
Add your own GLM
Integrate your existing data
Control different products and channels

Business results

  • Combined ratio improvement­ up to 85%
  • Up to 217% volume increase in targeted groups
  • Up to 50% volume decrease in non-profitable groups

Consumer results

  • *Competitive* premiums Competitive­ premiums

Boost portfolio profitability and volume

Be in control of your portfolio and business KPIs

BE IN CONTROL OF YOUR PORTFOLIO
Efficiently manage the profitability and volume of your portfolio or dive deeper into the performance of a specific underwriter, product or channel. Advanced Data Science and Machine Learning algorithms enable you to be in control of your business results.

Predict combined ratio

Get insight in the current status of your portfolio

PREDICT COMBINED RATIO
Forecast premium incomes and claim expenses and get insight in the current status of your portfolio by predicting the combined ratio for a selected period of time.

INDIVIDUAL RISK ASSESSMENT

Get insight in the profitability of the different consumer segments in your portfolio 

DYNAMIC SEGMENTATION WITH DATA SCIENCE
Our intelligent algorithms segment your portfolio based on profitabilty of different client groups. Get insight in risk driving factors and discover how different customer segments contribute to your profitability.

KNOW WHICH PROFILES TO TARGET
With these predictions you get insight in which profiles are positively contribution to your portfolio. By targeting look-a-like profiles in the market you will be able to attract the right customers.

MAKE A PERSONALIZED OFFER

Offer individual and competitive premiums

PERSONALIZE YOUR OFFERINGS
Set premiums on an individual level based on risk and loyalty. Next to this other business factors such as conversion, churn and market position are taken into account to optimize your premiums.

MARKET POSITION ON COMPARISON WEBSITES
Being at the top is key. Predict for every price point what your market position will be on comparison websites and claim the optimal to boost your portfolio and margins by proactively targeting your desired customers.

Steer your portfolio­ 

Continuously iterate and optimize your portfolio

PREDICT THE EFFECTS OF A PREMIUM CHANGE
Get instant predictions on the profitability of your portfolio for the selected premium changes and understand how this impacts the combined ratio in the upcoming period. Continously monitor and searching for the optimum. 

interested­ in this solution?

Get in contact with our Data Translator and Insurance Expert

foto van NAAM

Jochem van vuren­
Data translator and insurance expert

I'm looking forward to brainstorm about the possibilities of this solution in your organization. Don't hesitate to get in touch!

Ask Jochem