Today’s Holy Grail: Pricing, Rating and Underwriting Speed and Flexibility

In the face of rapidly changing risk factors, rising loss ratios and customer expectations, insurers need more flexibility in changing their pricing and rating for underwriting. Rating solutions stand at the heart of underwriting and pricing strategies, serving as critical determinants of competitiveness and profitability. As markets and risk grow increasingly complex, insurers face the challenge of enhancing efficiency, creating flexibility, and ensuring precision in their rating processes. Traditional methods of rating no longer suffice in an era of rapidly changing and risk the demand for personalized insurance solutions.

In addition, pricing and rating engines increasingly play a critical role to deliver rapid updates and new products to market, from E&S products to usage based, on-demand, parametric, and telematic products, to name a few. The demand for more regular updates for pricing, from real-time to weekly, monthly, or quarterly rather than annually, is now becoming mainstream and competitive advantage. As insurers look to grow profitably, differentiate themselves, and navigate the regulatory environment, doing so efficiently and consistently by using an enterprise rating platform is no longer a nice to have, but an operational necessity.

Hear from this panel of industry experts and leaders on the power of enterprise rating and how it offers unparalleled performance, flexibility, and scalability. Hear how it empowers insurers to meet and exceed the modern, complex market demands by automating and streamlining rating processes and offering advanced pricing options, while ensuring reliability to capture market opportunities, effectively rate risk, improve customer satisfaction, and drive growth in a competitive landscape.

Speakers
Denise Garth, Chief Strategy Officer, Majesco
Jennifer Bailey, VP Actuarial, Tower Hill Insurance
Karlyn Carnahan, Head of Insurance North America, Celent
Rob Whitton, VP, Majesco