Why the perfect formula for pricing tools doesn’t include Excel
Accelerate speed to market with the most effective pricing
hx Renew empowers insurers of small and mid-market enterprises (SME) to get more control over their pricing workflow, increase automation, and make effective pricing decisions—quickly.
Challenges insurers are facing in the SME market
A lack of speed in a rapidly changing risk landscape
To meet the needs of the market, SME insurers must manage a high volume of policies at pace—and respond quickly to changes. But when models are embedded in a PAS or third party software adjustments can cost time and money.
An inefficient underwriter experience
When submissions get referred, underwriters need easy access to all relevant information at the point of pricing. Without it, they spend too much time rekeying data and not enough assessing risk—meaning lower volumes of GWP get written.
Lack of automation results in missed revenue opportunities
Manual processes and slow risk triaging can lead to missed revenue opportunities. When systems are siloed, it's even harder to efficiently price submissions within risk appetite.
Drive your competitive edge with market leading speed
Build, deploy, and refine pricing tools 10x faster
Build versatile, scalable pricing tools in native Python with ready-made and reusable components
Self-serve rate and rule changes allow you to deploy in a few clicks
Powerful APIs allow best-in-class integration capabilities and enable AI-driven pricing
Reduce submission-to-quote time by 50%
A single solution to respond to the needs of different distribution channels and underwriting patterns—acting as a pricing database, rating engine, and underwriter platform
Flexible implementation options and integrations to remove the need to rekey data
Easy-to-use frontend for a seamless underwriter workflow, including peer review and automations
Make more effective pricing decisions with each new policy
Automatically capture valuable pricing data at every step of the workflow
Run what-if, batch rating, and portfolio-level analyses
Live benchmark and portfolio data at the point of underwriting for more insightful decisions
“The underwriters trust that the pricing tools work and that the pricing will make sense, and they can get back to brokers faster.”
Marc Wanless | Head of Corporate Lines (Interim) & Head of Motor, Commercial Lines
“We are committed to ensuring value-add pricing is a core part of the underwriting process, and it is crucial that we continuously innovate to make that possible whilst harnessing the power of data and new technology. Our partnership with hyperexponential represents a significant investment in elevating our pricing capabilities.”
Simon Cooper-Williams | Head of Portfolio Development Solutions - Markel
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