Is Your Pricing...

HOT or NOT?



 ... and what can be done?

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Some things are a bit of a mystery...

Mobirise

Winning by an unknown margin?

If you knew when your prices were hot, you could add a small pricing adjustment and still win the business.



Mobirise

Losing by an unknown margin?

Turn cold prices hot, to get new sales and more renewals.



Mobirise

Brand stacker's crowd you out?

Getting back near the to the top puts you in a strong position for winning when the brand-stackers are around.



Mobirise

Renewal retension worries?

Invite renewal in the knowledge that your price will fight losses from the PCW 'loyalty-costs' email.

Did you know

that the largest Insurer providers operate price prediction models, investing £m's for their exclusive competitive advantage?  They rely on data from the PCW's and their expensive data scientists to generate their models and they understand how post GIPP pricing changes have shifted competitiveness which puts them at a competitive advantage.....

but now...

THINGS HAVE  CHANGED


Now you can predict how competitive you are
before you quote

Get a heads-up on your competitiveness 'temperature' before you submit your price to the PCWs or at renewal.




Our clever system uses your own data to analise where pricing is Hot and where it's Cold and then turns those findings into a live predictive system to provide the competitive temperature for individual risks.

Below is a graph showing a selectiion of risks. The blue line shows the real cover status of the risk with values ranging from 0 (lapsed / NTU) up to 1 (renewed / on cover)

The orange line is predicting the competitiveness 'temperature' where 0 is freezing, 0.2 is cold, 0.5 is tepid, 0.8 is warn and 1 is hot.


So warm and hot prices match those that renew whilst cold / freezing prices correlate to the NTU and lapsed risks.



Highly indicative of competitiveness for individual risks 

New business & Renewals

Daily Updates

Our software imports the risk data that your IT team provides and builds the knowledge base that predicts competitiveness



What about Compliance?

GDPR

All data is anonymized and all personal data is removed. There is no PII data. There are no GDPR issues.

Data Security 

Data is encrypted, then the model is built exclusively for your use, using only your data. Nothing is shared with anyone else at any stage.

OFT & Competition Law

There is no information sharing. There is no conversation with competitor(s) about price ahead of the sale.
There is no collusion.

GIPP Compiant

The predictions are based on individual risk profiles, regardless of whether it's at renewal or new business. Whilst predictions could change over time along with market conditions, they will not change in connection with the policy's life cycle.

It seems like we've covered everything, but if not...

 

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PREMIUM RESEARCH

progressing insurance pricing