Service designed for non-live or credit insurance companies. Finance Engineering covers main actuarial and risk-underwriting functions in order to manage claim ratio. We will agree on planned sales volume (typically the same as before) and claim ratio for particular product. Our pricing is based on success fee!
Key benefits of our service:
- Proven business model (product management service generates significant value for our former customers);
- Investment risk eliminated (our bonus based on results achieved);
- Specialized and concentrated experience, which is focused in most problematic products;
- Faster research and conclusions;
- Lower workflow for internal experts (limited by monitoring and decisions making only).
Executing service we are using own reporting and pricing calculation engines. Service includes such main activities:
- Load of data into Finance Engineering data manipulation and reporting engine;
- Calculation of reserves (within detailed segments);
- Calculation of true price (real costs per policy) using advanced GLM methods;
- Estimation of effect of pricing system changes;
- Consulting during implementation of tariff changes;
- Regular monitoring and communication of project results.
