Product Pricing

In the face of tougher competition and market scrutiny, innovation and flexibility in product pricing/premium rating structures are more important that ever for non-life insurers. Actuaries have been working value in this area for a number of years, their statistical approach married with the skills of underwriters has helped to optimise profitability. LCP's non-life team can advise and assist with the analysis and investigations necessary to keep abreast of the competition in this area.

Over a number of years LCP has developed sophisticated burning cost, exposure and other risk factor models to support our clients in their rating and pricing. These are often bespoke, with a focus on supporting the underwriting process or on other factors, such as economic dependencies, that are key to the development of the businesses we advise.

We also assist in pricing reinsurance contracts, using our expertise in stochastic simulation and analysis to provide rounded and robust advice to our clients.

Contact us for further information.