With narrower profit margins and less investment income, insurers need to more efficiently manage the pricing process. Companies that better understand what drives claims experience, policyholder retention and new business conversion can make better informed decisions and gain competitive edge.
Pretium is a predictive modeling solution that supports faster end-to-end personal and commercial lines pricing analysis. Be it data manipulation, multivariate modeling, spatial analyses or price optimization, Pretium facilitates improved control, auditability, and documentation — helping organizations improve the performance of their business.
- Extensive data handling: Provides a range of import, manipulation and cleaning utilities to quickly start analyses.
- Fast: Making use of multiple processors enables models with millions of observations to be fitted in minutes.
- Generalized Linear Modeling routine: Supports all common forms of GLM.
- Geographical spatial analysis: A custom algorithm allows the user to understand how risks vary by area.
- Clear output: Every analysis is stored and can be exported to Excel for further analysis.
- Multilingual: The system is available in Chinese, English, French, Italian, German, Spanish or Portuguese.
- User-friendly interface: A tree view allows users to understand at a single glance how the analysis is progressing.