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Elite

With pricing models becoming ever more complicated, the utilization of a pure batch process without greater depth might lead to assumptive pricing decisions. The dimensions of pricing often transcend what we call 'groupings' of insurance risks (e.g. not everyone in my rate basket of 50 risks should necessarily have the same credit or tier assignment). Elite solves the batch processing limitations by providing:

Underwriting Build, store and share (with others in your group) underwriting rules for each carrier or by general study. This feature is inclusive of all driver, vehicle and policy-wide characteristics.
Tier Assignment Using the Underwriting Module, build and save tier assignments based on carrier-specific policy criteria. For example, align certain classes of risks from Company "A, Tier 2" with Company "B, Tier 4" and apply that rule across all risks in the study, so that the correct carrier/tier is evaluated in the output.
Credit Assignment Using the Underwriting Module, build and save credit assignments based on carrier-specific policy criteria. Used independently or in combination with the Tier Assignments, this function allows for correct credit alignment on a risk-by-risk basis. For example, align "Company A Excellent Credit" with "Company B Excellent Credit" and apply that rule across all risks in the study, so that the correct carrier/credit score is evaluated in the output.
Packages Build studies that rate and evaluate combined automobile with home, renters, or condominium coverage for an accurate "Package Rate." This function adds dimension to understanding a household policy and solves the question of which auto market to apply to which home market. The Package function also allows for placement of an auto policy with one company and the home policy with a different company outside the group.
Book of Business With Elite and its quote conversion routines, executable applications are developed specifically for the carrier. As such, large data sets containing policy data specifically generated by the carrier can be used in real-time to evaluate entire books of business. This includes, but is not limited to, policy issuance systems, call center data, and agent-specific data. This function can play a key role in determining the affect of a change proposal or the value of a book of business in an acquisition, and so on.

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The most comprehensive and accurate
rating and rules-based analytics resource ever created!

Who's it for?
 Pricing Analysts
 Actuaries
What does it Do?
 Real Time, Real Data Competitive Analysis
 Runs Risk Rate Analysis, Mix and Match Tiers
 Combine Auto and Home Packaged Analysis
 16 Pre-Built Reports
What's the Business Problem?
 Inability to Accurately Compare Tier Alignment
 Inability to Determine and Develop Package Rates
What's the Pain?
 High Potential of Writing Bad Business
 Inconvenience
 Costs / Profitability
What are you doing Today?
 Performing Manual Competitive Analysis
What are the Solution Benefits?
 Automates Tier Alignment, Faster Processing
 Reduce Bad Business
 Program Actual Book Quotes
 Package Detail, Analyze Auto/Home Combined and Multiple States

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