Auto Insurance: New Business (Real-Time) and Renewal (Batch) Pricing
A large insurance company in Europe, with significant market share in motor insurance improved their business performance for the motor insurance division through adjustments in pricing using the Earnix Insurance Suite. The insurer also gained more visibility into their current pricing process and how to account for changes such as agent discounts, marketing discounts and coverage changes. Earnix was integrated within the company’s core systems and become the insurers’ rating engine. The Earnix online environment was linked to the company’s pricing execution system making Earnix online fully functional within seven months.
Read the case study to learn how Earnix helped the company achieve an uplift in profit over GWP of 1.7%, while increasing market share by 0.3%