Insurance

The insurance market has been changing for years. And those market developments follow each other faster and faster. Customers expect personal pricing, new and innovative products, targeted advice, good pensions and more comfort. As an insurer you have to adjust your models and processes to be able to meet these requirements and to stay ahead of insurtech startups. The increasing competition in the market makes cost reduction a necessity. This can only be achieved if you increase efficiency. With standardized processes, supported by data and analyses.

Solutions

  • Valuation

    What benefits can I expect? What are my claims? What price should this policy have? And can you also add commercial value for your organization?


    These questions should not only be answered efficiently and compliantly for reporting, but also for numerous analyses. It would be nice not to have different actuaries reinvent the wheel more than once. Instead of complex - to production-enabled - Excel models, we develop tools whereby actuaries can answer business questions efficiently and in a standardized and auditable way. This allows you to respond quickly to new market developments and innovations.

  • Customer profiling

    You know that it is very important to be able to properly assess the risks associated with certain types of customers. If you know that, you can have a targeted search for new customers with the desired risk profile. In this way, you keep the right balance in your portfolio. 

     

    With clustering on characteristics of existing customers, we distinguish different customer groups and our solid analyses determine the corresponding risk profile for each customer group. Based on the results, we advise you in setting the right targeted marketing campaigns. 

  • Pricing

    The world of actuarial and commercial pricing is getting closer together. It makes sense, because the costs of an insurance product are not linear to the number of policies sold. The dynamic game between sales numbers and pricing is therefore very important. Do you already have this under control?

     

    We bring the worlds of actuarial and commercial prices together. Making good sales forecasts for the corresponding prices is essential. With the results of the analyses, you can calculate scenarios for the effect of price changes on sales numbers and risks. Because we also continuously monitor the new customers. Are the right risks taken in? Or is the customer profile different and do the pricing and marketing need to be adjusted accordingly. 

  • Customer

    As an insurer you want to make the best possible risk assessment of customers. In the today's world it becomes easier because more data is generated and collected. But how do you combine everything you know about your customers into and utilize that knowledge to make the most of your customer relationship?

     

    With our models we use all this data to make an individual risk assessment per insured person. But our analyses continue. In order to improve your customer relationship, we show which products or advice best suit the needs of the customer.

How we work

  • STEP 01 Potential Scan

    Many people, many needs, also within data science. Which challenge are you going to tackle first? Is there enough data available to fit a model on? We like to take small steps forward and answer these questions in the potential scan.

    • Test feasibility statistical model
    • Data inventorization
  • STEP 02 Proof of Value

    Every situation is different, so it is difficult to estimate in advance how much data science will bring for you. During the Proof of Value we develop models based on a limited scope. In this way, we can determine the added value as quickly as possible.

    • Determine added value based on limited scope
    • First insights & advice
  • STEP 03 Acceptance

    With acceptance within your organization, a data-driven solution will really take off! That is why we show, with cases from daily practice, what the added value of data science is. With a team of ambassadors within the organization, we determine how the next steps look like.

    • Achieve acceptance in the organization with cases
    • Joint effort for prototype and implementation
  • STEP 04 Prototype

    We will now fully roll out the models developed in the Proof of Value. The finalization of the models is done together with you, by analyzing the results with our joint expertise of data and business. We also set up tooling, with which you can use the models youself to support decisions.

    • Finalize models
    • Set-up tooling
    • First use in operation
  • STEP 05 Implementation

    You want to be sure that you always support decisions with the latest information. This is only possible with an automated data flow and models that directly make use of that data. We ensure that the solution fits perfectly into the excisting processes. Nothing stands in your way to let your organization grow!

    • Automated data flow & analytics
    • Improved daily operation
  • STEP 06 Embedding

    No matter how nice our cooperation is, in the end we want you to be able to do it yourself. We work on a smooth integration, in the way that best suits your organization. Still a question for our experts? You know where to find us!

    • Added value realization
    • Organize workshops
    • Knowledge transfer & documentation

Our best cases

Soon you will be able to view our best cases for insurers here.

 

 

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