Price Optimisation Solutions - how we add 2-10% improvement to your revenues
In a soft market, increasing the return on an already stretched portfolio is welcome. There are various strategies to achieve this. Some are dynamic and realtime, and others take a more holistic approach with periodic adjustments to tariffing and customer segmentation..
Contemi have solutions to both the above scenarios.
PriceBuilder
PriceBuilder is a sophisticated statistical solution that works alongside your rating engines, using historical customer purchases and price elasticity algorithms to optimise the price presented to your customer. PriceBuilder enables you to price even more intelligently than you do today, tailoring each quote to the individual circumstances of the sale. Using advanced techniques we do not replace traditional actuarial pricing work, but take risk prices as input to find additional profit.
PriceFinder
PriceFinder allows an organisation to micro segment their customer base, set a series of KPIs and objectives with respect to sales per segment. Pricefinder will then apply these models to current and on-going sales success and failures. PriceFinder will then advise on tariff adjustments per segment to adjust its performance in line with strategy.
PriceFinder also includes a set of modelling tools to allow you to model “What if” scenarios with respect to segment changes and tariff adjustments.
