How can Verisk’s Analyze Re product suite help me?
The Analyze Re Product Suite provides you the tools to be more agile, faster, and make better business decisions potentially leading to reduced risk and more profits. The platforms can help enhance your company’s abilities for strategic planning by identifying realistic business opportunities that align with your strategic objectives and constraints.
How does it help my teams write better business?
The Analyze Re Product Suite helps teams to understand the full picture relative to corporate strategy and market conditions. Its predictive analytics can uncover non-intuitive, optimal combinations of risks that can improve portfolio performance. The underwriter is now able to evaluate business opportunities while retaining full control to account for existing business relationships and companywide strategic objectives.
How much of a difference will it make to me / my team’s returns?
Depending on the size of the book of business and the complexity of the constraints, the Analyze Re Product Suite provides you with trade-offs between increased return and reduction in risk. It is not uncommon to see large increases in expected return (in some cases we see more than 10%) while preserving or reducing risk appetite.
My company has a different view of profitability. Can the system be modified to use that?
Yes. Our product suite is built to be flexible and adaptable. We will work with you to ensure your view of business is appropriately captured.
Can the Analyze Re product suite help me with retro planning?
Yes. The Analyze Re Product Suite can help with planning for new retro purchases or construction of portfolios that maximize the recoveries from existing retro coverage.
How can Verisk’s Analyze Re product suite help me to execute on company strategy while maintaining established business relationships?
The Analyze Re Product Suite allows you to easily capture the relationships you have and incorporate them as constraints into the planning process. The speed of the products makes it possible to lock in key accounts and explore a wide range of scenarios before ever having to make a decision on binding a deal.
How can the Analyze Re product suite help me to align with the company’s strategy while giving me the flexibility I need?
The Analyze Re Product Suite helps underwriters to easily express their view of business, while navigating within the guidelines of the company’s strategic objectives. The Product Suite uncovers opportunities that complement the underwriter’s preference and thus leads to robust portfolio construction.
Can Analyze Re offer me actionable feedback?
Yes. Analyze Re identifies realistic business opportunities that both express your view of business and align with the strategic objectives of the company. It measures the robustness of each opportunity and helps you make decisions that steer you towards your objectives.
What data do we need to provide?
In the simplest case anonymized layered simulated losses (YLT), premiums, and initial shares are sufficient to produce actionable results. More detailed data sets offer higher resolution and greater insights. The system has the ability to import multiple different formats if required.
How soon can we use it?
In many cases, onboarding is a straightforward process and can be done in as little as 2-3 weeks. We work with you to tailor this to your timelines and work with you on the configuration and training of the system that matches your needs and goals.
What are the system requirements?
There are a few options when it comes to installing your system. We offer our managed-hosted solutions which are always provisioned with a sufficient amount of resources in order to satisfy the quality of service you require for your business. We will also work with you if you prefer to use your in-house equipment provided it matches the proper specification.
Is there an API to use for our current systems?
Yes. In fact, Verisk’s Analyze Re Product Suite uses its own API for all of its functionality. The API is easy to use and we offer bindings for a number of popular programming languages.
Is our data protected?
Yes. Data communication with The Analyze Re Product Suite utilizes secure and encrypted communication channels (e.g. HTTPS). Persistent data stored is always encrypted and protected from unauthorized access.
How is the Analyze Re product suite different from other off-the-shelf products?
The Analyze Re Product Suite is purpose-built for the (re)insurance industry, offering domain specific functionality, ease of use, and greater flexibility. It allows you to get meaningful results quickly without the need to learn programming.
What are the reporting capabilities of the Analyze Re product suite?
Depending on the granularity of data loaded into the Analyze Re Product Suite, it can perform analyses and report at different levels of resolution, including region/peril, individual underwriters, underwriting teams, business units, and overall book of business.
How many objectives does the Analyze Re product suite support?
The number of supported objectives is virtually unlimited. Our experience has shown, that meaningful problems typically have between 2 and 5 objectives.
What types of constraints does the Analyze Re product suite support?
The Analyze Re Product Suite supports a large variety of constraints, including constraints on individual objectives, subsets of deals, or specific region/perils or lines of business. The number of constraints a problem might have is unlimited.
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