Individualized premiums

One-size fits all was yesterday

Efficiency

Reduce manual operations

Accuracy​

Real-time led premiums

Seamless Integration

With existing systems

Highest Security Standards

Data safety & integrity

Problem

The Shortcomings of Conventional Premium Models

The traditional model for calculating insurance premiums is increasingly seen as outdated and unfair, marked by several key issues:

  • Time-consuming: It takes weeks to months, delaying coverage and frustrating customers.
  • Manual Effort: Relies on manual data collection and risk assessment, limiting scalability and increasing the potential for error.
  • Dependent on Outdated Historic Data: Uses historical data that may not reflect current realities, risking mispriced policies.
Solution

Tailoring Premiums with Technology and Dynamic Contract Management

To address these issues, Data Driven X redefines how premiums are calculated:

  • Dynamic Payment Application: Premiums adjust in real time to reflect actual usage and risk, thanks to integrated contract management technology.
  • Configurable Contract Parameters: Contractual terms can dynamically adapt, ensuring premiums accurately mirror current risk and usage levels.
  • Adaptability to Changes: If a policyholder adopts safer habits over time, their insurance rates can be adjusted accordingly. This adaptability encourages ongoing risk management and can result in long-term cost savings for all parties.