Predictive Analytics: Not just for pricing and underwriting.

Improve your results in ratemaking, underwriting, claims, fraud detecting and marketing. Use data-driven insights to make smarter decisions about your service offerings and to get the most out of the data you collect.

For decades, insurance companies have successfully relied on predictive analytics to drive pricing and underwriting decisions. Recent advancements in data-capture and computing mean that insurance companies can analyze greater volumes of data, applying predictive analytics techniques to every aspect of their business. In fact, this level of analytics is no longer optional. In today’s marketplace, insurance businesses must use every tool at their disposal to respond to industry changes and retain a competitive edge.

Predictive Analytics for...

Ratemaking

Improve pricing accuracy by developing a refined insurance product.

Claims & Fraud

Accurately rank preliminary claim attributes, including severity loss predictors and identify claims characteristics that warrant further review by your fraud detection unit.

Marketing

Evaluate current strategies to focus your marketing efforts for better policy conversion, cross-selling opportunities and increased market share.

Underwriting

Improve risk-selection when evaluating new business and discretionary pricing ranges.

Raw Data Reinforced by Insurance Expertise

Uncover hidden insights

Our data scientists uncover the underlying patterns in your data and determine the effectiveness of variables using the most current open-source tools and machine-learning methodologies.

use big data

Predictive analytic teams use big data to provide you with a deeper understanding of your business and improve your internal operations.

implementation and Approval

Our insurance experts assist with the implementation and, if necessary, with the insurance department filing and approval of the predictive analytics model.

Ongoing involvement

We also offer ongoing involvement to monitor the effectiveness of models.

RESOURCES, NEWS & EVENTS

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Dean Ferdico and Jim Vallee Talk about Perr&Knight’s Services and Marketplace Developments

CCIA Insights Podcast: Actuarial consulting firm Perr & Knight provides end-to-end solutions for all types of insurance coverages. Leaders Dean Fe...

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Nevada Prohibits Adverse Action Resulting from COVID-19, Will Require Refunds for Affected Policyholders

Citizens of Nevada may be seeing a refund come their way this year after the Division of Insurance (DOI) approved regulation R087-20 on December 28, 2...

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