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Writing the right business at the right price, right now

Issue link: https://content.ssp-worldwide.com/i/685662

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KEY TAKE-OUTS Insurers need granularity around business performance to be able to respond dynamically to changing market conditions to be more competitive. By understanding more about the individual risk they are insuring and customer behaviour across all channels to market, insurers can provide the most accurate, tailored price and optimise cross-sales. As the number of external data sources and providers continues to grow, insurers need to ensure they can consume this effectively, along with all their own customer knowledge. Most insurers do not have a real-time whole of market view. To be able to react to what is happening right now, insurers need immediate visibility of their book, as well as an understanding of the business they quoted on or lost. Being able to self-service changes to their rates, prices and other business rules empowers the business to be in control and provides the agility to react quickly. By implementing a single platform for whole of market rate distribution, deployment costs are reduced, as it only needs to be done once. Insurers need a single solution, such as SSP Intelligent Quotes Hub, that provides whole of market visibility and customer transparency, as well as enabling them to self-service changes. By choosing the correct technology partner, insurers can benefit from both innovative technology and trading experience to smoothly transition from analogue to digital pricing. A number of insurers have already taken this on board, meaning those who are not doing so are operating at a disadvantage to competitors with greater insight. WRITING THE RIGHT BUSINESS AT THE RIGHT PRICE, RIGHT NOW

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