A Year End Update on the LIBOR Transition
Use data capture technologies to understand your competitors' pricing policies so you can incorporate them into your own calculations.
Recovery of online insurance rates and reconstruction of pricing models by reverse engineering
The use of the internet to compare insurance offers online (simplified by the standardisation of the use of comparators), combined with the possibility of cancelling contracts at any time, increases competitive pressure on insurers. Knowing and taking into account competitors' prices is now becoming necessary to maintain, consolidate and increase the market shares and profitability of the contracts offered.
Competitive pressure and the dependence of profits on the volume of subscriptions make the optimization of non-life insurance rates a major challenge. The price elasticity of policyholders as well as the risk segmentation adopted by the competition makes it essential to know its price positioning in detail and to integrate it retroactively into the pricing model.
We supported our client in its work to overhaul its motor insurance pricing model, to help it understand the pricing policies of its competitors in order to integrate them into its own calculations.
In order to understand the pricing structure of competitors, a methodology of massive and automated price collection on the Internet is used. Our Data Capture technology allows to automatically fill in forms and retrieve price proposals from online quotation sites. The retrieval of a large sample of profiles allows us to estimate competitive prices for each profile through the use of reverse engineering models.
With the ability to interpret competitor segmentation and understand price differentials by segment, we are able to help our client complete its technical pricing with a business optimization module that takes into account competitive pricing.
Effective pricing is essential for a company, it is one of the most important elements when it comes to creating marketing strategies. Increased competition requires companies to continuously monitor the pricing strategy of their competitors.
Our team of Data Scientists will help you to implement competitive intelligence on the subjects of revenue management and pricing: Revenue strategy, Commercial efficiency, Performance management.
Heka is the ecosystem of Artificial Intelligence solutions developed by Sia Partners. These advanced Data Science solutions come from years of development experience and support of our customers. Our developed industrial tools and insights allow Sia Partners to address recurring business issues and support value creation across multiple sectors.