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Pricing & Underwriting

We offer a methodical and sector-specific approach for building & optimizing insurance products (traditional / new IoT, Smart Contracts, …) and their rating structure. We also provide thought leadership to improve profitability for underwriting.

The insurance industry is undergoing an unprecedented transformation pairing new technologies with new needs. This provides insurers with opportunities in product design and customer relationships.

The actuary is at the center of this change thanks to their access to new data, methodologies and tools. This allows them to address the needs of risk coverage amongst clients.

Our approach in product development, pricing and underwriting aims to enable our clients to:

  • Optimize financial and operational performance with regards to product features, pricing and underwriting
  • Advise them on the prospects of relevant insurtech issues (behavioral insurance / pay as you…, mobility tools (IoT, smart contracts, …)).

We leverage multiple areas of expertise to reach an optimal position:

  • Data structuring and quality assurance: setting up management tools and data collection, data enrichment from external or internal sources
  • Assistance in selecting and implementing tools (databases, pricing software solutions, …)
  • Development of a rating structure: pure premium with pre-selection of factors, interactive search, zoning and vehicle score creation, smoothing, integration of operational specificities, competitive market analysis
  • Deployment and customer relationship: price optimization through elasticity modeling, impact analysis generation to better understand the effects of price changes, reactions to special offers, understanding competition but also detecting value leakages in the rating structure
  • Enhancing the building and updating processes for pricing: flash diagnosis, improvement roadmap, training on tools and methodologies, regulatory watch
  • Audit & review pricing models, and profitability assessment: in particular, we can assist our clients with setting up reporting processes to monitor underwriting quality