Insurance Premium Modeling
Gain the agility to stay ahead of the changing market with real-time insurance premium modeling and ‘what-if? analysis
Build and maintain models yourself without outside help
Get enterprise level security and transparency
Create and test new scenarios in real time for a rapid response to market changes.
Anaplan has been designed to be totally self-managed with built-in intelligence and intuitive rule writing using natural syntax and drag and drop functionality. This means you can build and maintain your own models without outside support: quickly building new models or copying and amending new versions of existing models to reflect the way a particular policy is rated, adding new dimensions for things such as new risk groups, and writing new rules for the way premiums are calculated.
Unlike spreadsheets where there is no enterprise level access control or audit trail, Anaplan’s selective access control means only authorized users can access the data they are allowed to. A built-in audit trail means users and their managers can see when changes were made to models and who made them. Unlike spreadsheets where rules are buried in individual cells, Anaplan enables total transparency into the rules that underpin the insurance premium modeling in a central store.
Because Anaplan was designed to be totally self-managed, you can quickly create new versions and test different scenarios in real time—such as insurance premium modeling how loss ratios and profit margins may change if you respond to a competitor lowering their rates. That way you can become more nimble in responding to changes in the market and more confident and incisive in your actions since you have a deep understanding of the financial implications.
British multinational insurance company / Serves 30 million customers globally
Using Anaplan, Aviva increased its planning agility and accuracy in its end-to-end group planning processes, incorporating the 16 countries in which Aviva operates. The platform has allowed Aviva to further optimize its plans by delivering instant results of alternative scenarios and the flexibility to deliver those results in different ways to suit varying departmental and executive needs.