Insurance Princing Room
December 28, 2017 at 12:18 pm,
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Our
product was born from the need of Insurers to find out what customers
value their products. With our solution, it is now possible for Insurers
to identify which properties of their products do customers value the
most and more importantly how much are they willing to pay for them.
More,
our approach gives the Insurers the price that is been presenting to
the client by the competition. This information is included in our price
design so that Insurers can present the best price to their customers.
Through
our services and several tested statistics algorithms, our clients can
rely on a more precise risk model and above all where price is no longer
based on cost, but on customers' perceived value. At the end Insures
can have a price that maximizes its margin, maximizes their revenues or
that reduces the churn.
Finally,
with the Insurance Pricing Room, Insurers are now capable of testing
new products in a safe environment where they can model price and
product features according to customers willingness to pay and their
competitive set.