Pricing

Traditional pricing considers two factors; risk and frequency. This fails to take into account:​

• Competitiveness in specific segments​
• Market change and attrition risk​
• Affinity between claim frequency and severity​

Our consultants enhance the risk pricing model delivery with dynamic segment revisions by:​

• Using a multi-variate approach to deliver more sensitive, accurate, tailored pricing to address attrition and demand​
• Countering competitor pricing behaviour across low penetration segments by using simultaneous modelling, dynamic re-pricing and a risk-based approach to model revisions​

Solution Capabilities​

• Enhance existing models with new factors, for example by adding the property damage frequency estimate to an injury frequency model​
• Sales projection updates linking to actual daily conversions with dynamic re-pricing​
• Price modifications in segments where the dynamic risk model has identified changes in risk costs