Increase your strike rate through data-driven analytics
This New solution brings in the objectivity needed to facilitate fact-based, predictable, and self-learning decisions for the new Insurance business. Underwriters are no longer just responsible for risk selection and pricing, they are now expected to support sales function and increase new business, significantly decrease the loss ratio, and increase retention rates of existing customer base.
The information used by underwriters can vary widely. Also, underwriting actions are not always truly risk-based, but instead influenced by market dynamics, subjective decision making, and external competition.