Allocating premiums across business units can consume more resources than it creates in business value. To avoid internal friction and withstand external scrutiny, your premium allocation approach needs to be repeatable, transparent and fair.
Lighten your administrative load and get more value from your premium allocation process with a risk-based actuarial methodology you can customize to the demands of multiple business units.
Forget unwieldy Excel spreadsheets and time-consuming stakeholder challenges.
We’ve designed our objective, risk-based methodology to ensure fair and transparent premium allocation. And with PowerBI delivery, it’s easier to connect to premium and risk data, visualize your premium allocation rationale and analyze, revealing loss patterns and optimization opportunities.
How can you allocate premiums more easily and effectively?
By using our premium allocation services, you can:
- Be clear and transparent on your premium allocation process, reducing internal friction or challenges from subsidiaries
- Free up internal resources to focus on higher-value tasks beyond unwieldy premium allocation processing
- Identify risk factors for individual units or locations using data
- Ensure compliance with regulatory requirements using a third party, auditable framework
- Make more informed decisions about risk management strategies.
Are you confident your premium allocation approach is fair and transparent?
What factors do you consider when allocating premiums? Are they appropriately weighted?
Can you identify and address specific risk factors for individual locations?
Our premium allocation services give you answers.
How can your premium allocation approach support better value from insurance?
Use our methodology to test alternative insurance strategies and find opportunities optimization opportunities at any stage in the renewal cycle.
Our PowerBI dashboard gives individual business units visibility into the rationale behind premium allocation on-demand. It’s quicker and easier to explain premium movements and what’s driving risk.
Expect smoother, more collaborative communication with finance, treasury and leadership colleagues across business units and subsidiaries when you’re backed by a robust and auditable premium allocation approach.
We make it easier to quantify and demonstrate fair premium allocation, plus the cost efficiencies and diversification benefits of well-managed, centralized insurance purchasing.
It’s also easier to keep a history of changes in allocations and track movements over time with our PowerBI premium allocation outputs.
How can you get the most from actuarial, risk-based premium allocation services?
Depending on your business needs, we can design your premium allocation approach to incorporate modeling outputs, plus industry-specific and risk management scores, as well as more traditional revenue weights.
Our team of specialists work to understand your needs and build a tailored premium allocation solution able to meet the requirements of multiple business units while maintaining an objective methodology that withstands external scrutiny.
Your PowerBI dashboard makes premium allocations easy to digest and explore, with additional insights and downloadable Excel tables.
