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Displaying "Pricing" articles (57)

How FCA Pricing Reform is Reshaping the General Insurance Market

It’s been nearly a year since the FCA’s Pricing Reform went into effect. Yet many insurers still have questions related to its requirements, especially when it comes to developing the right pricing and rating strategies to comply and compete.

Pricing

Innovative Approaches to Pricing in Auto Lending

Banks, credit unions, and automotive captive finance companies—any organization providing auto lending—stand to gain a lot from new, smarter pricing strategies and approaches. By improving pricing approaches with modern technology, these organizations can grow their customer bases, improve overall profitability, and deploy highly tailored, personalized offers that create meaningful customer experiences.

Pricing

Leveraging Intelligent InsurOps to Relieve Upward Pressure on Premiums

The impact on claims from diverse forces as inflation, rising interest rates, altered driving patterns, cyber threats, and extreme weather events, to name just a few, create scenarios with upward pressure on premiums and highly uncertain outcomes.

Dynamic Decisioning and Analytics in Financial Services

Forward-thinking organizations in financial services now deploy sophisticated tools such as artificial intelligence (AI) and machine learning (ML) to upgrade the customer experience throughout the customer journey. These firms have rightly prioritized decisioning and analytics to remake their business models.

Winning in a Changing Insurance Landscape with Agile Operations

Improving agility is not just an internal accomplishment. While this helps enhance internal workflows and processes – saving time, increasing productivity, and generating new efficiencies – truly agile operations also deliver benefits for the entire organization. Improving the agility of operations will become table stakes as the entire insurance industry looks to take advantage of many different digital use cases.

Capitalizing on Intelligent InsurOps to Combat Inflation

Even in the best of times, economic forecasting can be an imprecise science. Governments, corporations, and private citizens all make key decisions based on these forecasts and inflation is among the most difficult economic parameters to predict. Businesses have no choice but to factor this into their strategies and tactics if they want to succeed. In today’s turbulent market, finding ways to mitigate inflation is more important than ever.

Gather, Analyze, and Act in Real Time to Instantly Unlock Market Value

Speed to market is a top priority for virtually every insurance company today, and for good reason. In order to compete – against traditional vendors as well as aggressive new market entrants – insurers need to do all they can to meet customers’ demands when it comes to delivering exactly the right product offer extremely fast.

Reimagine Insurance with Intelligent Insurance Operations

Whether it’s AI-driven rating, dynamic pricing, robust product personalization, fully operationalized telematics or other essential capabilities, the insurance industry needs more intelligent, agile, and composable solutions to overcome operational challenges and meet elevated customer expectations. This eBook presents a vision for the future of insurance defined by intelligent insurance operations.