Understand how market forces impact the outcome of pricing decisions
Gain insight into how high frequency price updates in the market are affecting business performance. Drive repricing decisions by integrating third party competitive data with pricing and portfolio analytics.
Understand price-to-sales elasticity effects with limited data
Using OFT1301 compliant data and advanced data science capabilities, develop high performing price-to-sales elasticity models.
Quickly explore pricing scenarios to support fast turn-around pricing cycles
Avoid inefficiency in the pricing process resulting from multiple data hand-offs between actuarial systems and analytical packages or Excel. Use flexible pricing tools and a rich suite of integrated analytics, allowing pricing teams to shorten pricing turn-around times.
Optimize premium rates to maximize growth while protecting margin and meet treating customers fairly (TCF) requirements
Use an extensive optimization toolkit to understand the impact of constraints, explore different pricing strategies, and arrive at a set of premium rates that best satisfy the limits set out by the TCF framework.
Understand key lapse drivers and optimize retention interventions
Bring together policyholder, customer interaction and third party data to better understand key lapse drivers and optimize the deployment of retention interventions to improve retention outcomes for a range of products.
Optimize the cross-sell and up-sell of features and products to existing customers
Understand which features and offers appeal to different customer segments by combining policyholder, customer offer and third party data to optimize cross-sell and up-sell offers.
Run rapid and cost effective actuarial models
Use an open and flexible low code model developer environment to create and run transparent modes.
Collaborate with actuarial and data science models in the same environment
Empower your Data Science and Actuarial teams to work collaboratively on the same platform.
Leverage open low cost APIs
Avoid data silos by connecting all necessary data. Feed actuarial outputs easily into other decision making processes.
Drive faster decisions by utilizing cloud based workflows within a scalable, collaborative platform
Harness the power, scalability and security of the AWS cloud, to reach decisions faster than existing tools allow.
Implement AI-enabled decision science capability and process that is modern, fast and proactive
Integrate key internal and external data sources into a repeatable and dynamic process.
Operationalize data-driven decision making
Consolidate disparate actuarial and data science tasks and tools into one decision science platform.
Drive decision making through data and AI
Shift away from ‘gut-feel’ or biased decision making towards data-driven decisions.
Improve efficiency, transparency and output of your team
Avoid silos by running processes on a centralized platform. Increase transparency and reduce the risk of error in outdated spreadsheets and legacy technology.