Risk Selection and Visibility
Managing Risk Exposure is a Balancing Act
Assessing and balancing your level of risk exposure while growing revenue from your underwriting and premium pricing capabilities is a challenge - mainly because the you lack insight into the risk profile of potential customers and can't manage the impact of economic instability and external events on coverage valuations.
Get Real-Time Visibility into Risk Attributes
Progress delivers real-time visibility into the risk attributes of potential customers with the ability to detect events and transactions that fall within your risk appetite. By integrating and connecting to integration and connectivity to third party data source, you get a comprehensive view that helps you focus on the customers meeting your company’s risk profile, paving the way for more accurate and competitive pricing of premiums. The result: a higher conversion ratio and more profitable new business acquisition process.
With this increased visibility and connectivity you can increase your conversation ratio and improve pricing evaluation while maintaining an optimal balance of risk. In the end, this allows you to:
- Increase revenue through more accurate premium pricing
- Improve conversion ratio through better alignment between pricing and risk profile and faster quoting process
- Enhance profitability through improved automation around new customer data consolidation
Related Product
Progress® Actional® delivers the tools required to monitor, manage and respond to events that can dictate how well an insurance organization manages risk.
