Really keen to see whether this is a true step in the direction of pricing innovation in the Life Protection space or just a model to make repricing quicker and cheaper.
The key will be whether products change to reflect the opportunities that this brings in relation to other data that can be taken into account.
This could open up a whole new product opportunity for targeted Life Protection insurance - watching this space with interest !
Using real-time analytics - from traditional rating structures to complex pricing algorithms with embedded risk models - the software aims to provide enhanced pricing flexibility and responsiveness to market developments. It is also designed to increase efficiency and reduce costly errors when programming rates in multiple environments.