New entrants have no pre-existing claims to use as a basis for pricing models. So instead, our experts used our proprietary model and price comparison website quote data to build a rating structure based on market prices. The team then worked with the client underwriters to apply adjustments tuned to the client’s target market.
Our work also built categorisations for postcode, vehicle, and occupation for deployment in the live rating. This approach transformed the complexity of thousands (vehicle and occupation) or millions (postcodes) into a detailed, communicable, easy-to-deploy risk index.
Our team subsequently worked on similar Home and Van insurance products with the same client.
