For P&C carriers: pricing, reserving and filing on one workbench

Pricing, reserving and filing all run on one workbench.

Your actuaries keep the judgement and hand us everything else, which is the documentation, the data ingestion and all the shuffling around the decision. On the workflows we have measured that is about 90% of the time the work used to take.

Everything the desk does, in one place.

Admitted and E&S are hard in different ways.

On the admitted side the problem is volume, because everything is filed and there is more public information than anybody can read. On the E&S side the problem is that every program is its own shape, so there is no standard rater to start from and often not much data either.

Bring a filing and a book.

The quickest way past a demo is to watch this run against something you already have an answer for. Pick a line, hand us a rate manual, and see whether the numbers come back where you expect them.

Competitive analysis, reproducible

We rebuild a competitor’s rate plan from their public filings and run your own book through it, so you are comparing like with like. One competitor, or the whole market in one go.

Rater deployment and filing

From a plain-language change to a tested, versioned rater with exhibits built per state, rather than reformatted by hand fifty times.

Reserving and the quarterly close

The triangles are squared as the data comes in and the methods sit side by side, so the quarter starts at the point where you have to make a call.

GLM development and defensibility

Develop GLMs from your own data or reverse-engineer a competitor GLM, with help on curve fitting, segmentation and the memo that has to survive review.

Objection letters

The filing, and then the answers when the objections come back. The whole trail is kept, so when somebody asks about it two quarters later you can actually answer.

Hard-to-rate exposures

Multi-class programs, and the risks that never fit the schedule. Each one comes back with the audit pack your chief actuary has to sign against.

What you are up against

Admitted: Everything gets filed, so there is more public information about your market than any team could ever read. The competitor answer is sitting in SERFF and nobody has the weeks it would take to go and get it.

Specialty and E&S: Rate and form freedom means every program is its own shape. There is no standard rater to start from, the lines do not look like each other, and half the time the data is thin as well.

So the work is

Admitted: Reading and reconstructing at a volume that does not fit in a quarter. Fifty states of exhibits, a rate plan per competitor, and a manual somebody wrote to be hard to follow.

Specialty and E&S: Building a rater from scratch for a line nobody has built one for, then defending the judgement that went into it when the capacity provider or the auditor asks.

What we do

Admitted: We pull the filings and rebuild the rate plans, as many as you want, and every constant cites the page it came from so you can check us rather than take our word for it.

Specialty and E&S: We reconstruct raters across as many lines as you have and take in whatever data you have got, in whatever shape it arrived. Where there is not enough of it we build synthetic data you can question in plain English.