2% increase in retaining potential churn customers for a US based warehouse club

Pricing

Insurance companies are facing a difficult macroeconomic environment, rising catastrophe losses, and a tight regulatory scenario against the backdrop of a demanding customer. Predictive models offers a statistically reliable, sound, and rule-driven method to improve underwriting and pricing decisions. Our solutions in Pricing analytics is Underwriting Risk.

Our capabilities in pricing can enable insurance companies price their products while accounting for various cost and risk factors.

Need

To achieve the optimal pricing there is a need for calculation of fair price for the asset underwritten, inclusion of profit and inflation effects and adjustment for market factors and competition.

Impact

Optimized workforce allocation to the right store at right time helps to meet the corporate productivity goals, gain sales, improve the customer experience and store performance. It also helps in major reduction in cost due to better planning of resources – in terms of their allocation time and space standpoint.

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