Upload Data From Any Data Source
Provide your Raw data in any format
USE CASE 1
Portfolio Performance monitoring
More often than not, the available data is unstructured and gathered from several sources, requiring weeks of analysis on Excel spreadsheets and adjustments each time you need new business insights. As a result, your path not only is slow but may be uncertain, forcing to make decisions, based on poor or inaccurate data, leading to slow reactions to changing market trends and ultimately putting your insurance business on an unnecessary high risk.
R2 experts will bring to your organization a single view of truth about the ultimate performance of your Motor or Heanth book, on a monthly basis and at a very granular way so you can precisely and promptly identify trends and deploy whatever needed corrective actions
Portfolio performance monitoring in depth
Clean, Reconcile & Data Transformation
Data analysts prepare your data to be visualized
Reserving
Performance is always measured on ultimate basis
Top & Bottom Line Insights
R2 offers a 360-degree view of your business performance
MODULE 1
Business Intelligence Environment
USE CASE 2
Modelling Cost of Coverage
More often that not, tariffs used by Insurance companies poorly capture past ultimate trends of frequency and severity, either because of lack of regular tariff reviews and/or lack of proper pricing software to effectively analysed and determine claims trends , poorly capture these trends at very granular level so likely high levels of subsidization are in place, and even worst, poorly capture future trends expected both frequency and severity if not also expenses. Remember, when you set a tariff, you set it to cover all the claims and expenses that will happen in the next 12 months, not the ones that happened in the past.
R2 data experts by using the latest GLM pricing techniques for data modelling will make sure that you understand very well what are the real costs of production – risk premiums, burnings cost – of your book, you have access to a set of scenarios for the upcoming period so you better understand which are the areas that you have to manage and monitor when you decide that your tariff has to deviate from your historical and expected costs of production.
Modelling Cost of Coverage in depth
Upload Data From Any Data Source
Provide your Raw data in any format
Clean, Reconcile & Data Transformation
Data analysts prepare your data to be visualized
Reserving
Performance is always measured on ultimate basis
Technical price
R2 will help you to model the cost of coverage (Technical price) and eventually price and steer your portfolio towards desired targets (Re Pricing and Re Underwriting).
MODULE 2
Modelling Cost Of Coverage
USE CASE 3
Modelling Cost of demand - Optimization
More often than not, Insurance companies regularly modify their tariffs to better compete but very inefficiently because of the very limited understanding of market competitors pricing and/or consumer behaviour, or even worst, without a clear understanding of the performance impact of penetrating / retaining aggressively some customer segments.
R2 data experts by using the latest GLM pricing techniques for data modelling and building the process to get access to reliable and granular competitors data will make sure that your Hit Ratios both New business and renewals for the segments chosen are maximized for a given loss ratio Target or your Hit Ratio increase to the desired ones with full clarity of the Bottom line impact
Modelling Cost of Coverage in depth
Upload Data From Any Data Source
Provide your Raw data in any format
Clean, Reconcile & Data Transformation
Data analysts prepare your data to be visualized
Reserving
Performance is always measured on ultimate basis
Top & Bottom Line Insights
Our Actuaries and Data experts will model periodically your data so fitting millions of observations to help you to make better price to market decisions
MODULE 2
Modelling Cost Of Coverage
USE CASE 4
Pricing Live
Early birds catch the worm !!!!
In a changing world, speed is paramount. More often than not, Insurance companies take an eternity to deploy a pricing change, and when deployed, in occasions the opportunity is gone and the type of pricing adjustment required should have been a different one.R2 covers this gap, it has a rating engine that will allow you to deploy pricing changes in seconds.
Modelling Cost of Coverage in depth
Upload Data From Any Data Source
Provide your Raw data in any format
Clean, Reconcile & Data Transformation
Data analysts prepare your data to be visualized
Reserving
Performance is always measured on ultimate basis
Tariff deployment
A rating engine that will allow you to deploy pricing changes in seconds