A leading insurance company was looking to improve its profitability by redefining the pricing of its corporate (B2B) insurance products.
The pricing team needed to better understand the factors leading to an increased risk of claim occurrence (and duration) and align their price with this probability of expected risk (and associated costs).
We started by gathering and cleaning the data obtained.
We then built several models to identify the most relevant predictors for the risk of claim occurrence and duration, for example:
Finally, we built several incidence and severity tables associated with each combination of factors to create a simple tool we provided to the internal teams.
In a matter of weeks, we delivered the following results:
Since 2015, Agilytic helps innovative leaders solve their biggest challenges through the smarter use of data. With over 80 successful projects to date, we have perfected a pragmatic approach to putting data at the service of business goals, be they commercial, operational, financial, or human. Reach out today for a quick introduction, we’d love to hear from you.