risk based pricing

Individuals differ in terms of risk, therefore individual premiums are crucial to keep a healty CRvp. Based on the predicted frequency and severity of claims, customer characteristics and policy information, we predict the risk of an individual and adjust premiums accordingly.

 

Risk

Predicts the amount that an individual is going to claim in a given timeframe

Business results

  • Know which profiles have a positive contribution to your portfolio
  • Targeted premium changes

Consumer results

  • Premium based on *individual risk* Premium based on individual risk
  • Rewards for *good behavior* Rewards for good behavior

Combine this solution with

data driven underwriting

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.

More info

Conversion

Predicts the probability that an individual will convert on a specific offer