Revolutionising Insurance Pricing with a Centralised Model and API Integration by Morgan Hill Consultants
Here is a look at how we transformed a fragmented pricing process into a streamlined, efficient system for a major Lloyd's underwriter, governing the pricing for their General Insurance and Reinsurance businesses.
31 models coded and tested in 12 months, delivering consistent pricing and processes across all COBs.
Safe and secure pricing, ensuring underwriters are limited in line size written without proper permissions.
Enhanced data connectivity with a system agnostic to data sets, implementing a centralised, controlled data repository for all the pricing curves and parameters.
Detailed, user-friendly records of each quote in tabular format.
Quick recording of impact assessments for adjustments in final pricing, providing underwriters with rapid flexibility insights.
Full auditable history of any changes to code or pricing tables.
Models across different Classes of Business were all standardised.
Harnessing the power of Machine Learning we delivered a fast and accurate solution for a leading insurance company which wanted to accelerate their roof damage assessment process.
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READ MOREWe offer exploratory workshops to analyse your business landscape, identify key issues, and brainstorm bespoke solutions with our experts and your team.
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