Case Study #1

How did a major insurer discover their edge?

Taylor Fry Analytics was approached by a major personal lines insurer to optimise its pricing strategy and portfolio composition. What was the right price point for their products? How would changing the price of their policies affect their market share?

Taylor Fry set out to examine their customer data to unlock the information inside. Taylor Fry built a business model which integrated sub-models describing competitor pricing, customer demand, business constraints and business objectives. The results enabled our client to determine the best balance between profit per policy and number of policies.

The result? A smarter business - one that knows its risks and knows its capacity for growth. An adaptable business that sees opportunities and moves quickly. The insurer consolidated its core business and achieved significant growth. Growth figures are expected to continue to improve.

The lesson? Our portfolio optimisation toolkit can offer deep insights into pricing strategy. Untangle the complex interaction of price, channel, product bundling and external factors to understand the drivers of profit and volume.

Knowledge gets results: our team of specialists can work alongside yours to build understanding and empower your business leaders. For more information please contact Richard Brookes or Alan Greenfield.