Insight consultants have conducted various personal lines optimisation exercises, both for insurers and intermediaries. Our strength is in providing actionable advice to clients through hands-on technical work and a proper understanding of requirements and constraints. In areas as technically complex as optimisation, we place heavy emphasis on underwriter communication and engagement to ensure their expertise is properly incorporated.
Our philosophy is that pricing models, especially in non-homogeneous classes, only get you so far in terms of profit enhancement. In our work at Lloyd’s Syndicates, Insight consultants have developed pricing analytics and MI to fully exploit pricing data. These frameworks bring meaningful data to underwriting teams so they are best able to bring their expertise to bear, challenging on rates where necessary and exploiting margins where they emerge.
An example interactive MI exhibit (with fictional data) can be seen here.
A London market client needed to deploy a new marine model quickly. We used our pricing and IT expertise to develop and deploy a robust, database-backed system. Working with both underwriting and IT, we were able to deliver a cloud-ready product satisfying all stakeholders, giving usability and analytics for underwriters, in an architecture consistent with local IT standards.
Insight consultants have delivered both technical and non-technical documentation for clients. This has ranged from detailed parameterisation documents through to policy documents. Documentation is what regulators and stakeholders normally see first, and we understand that this is critical to evidencing the work conducted by actuarial teams.
We have worked with clients across different areas of risk management. We have led exercises into meaningful risk appetites, risk registers and ORSAs which successfully integrate with both qualitative and quantitative risk processes. We believe real value can be achieved from risk frameworks and our firm is a thought leader in developing areas such as emerging risk, operational risk and
We have supported clients in wide ranging aspects of their internal model validation processes. Insight consultants understand how best to effectively validate an internal model and can add significant value to validation processes.