NSURE Pricing Engine

NSURE Pricing Engine solution is aimed to create and optimize dynamic pricing strategies in real time to out-price the competition for all motor and non-motor products.

It empowers business users to define, deploy, approve, monitor and maintain the business rules on critical pricing models & manage by exception, practically bringing the risk of a human error to zero. The solution enables insurers to strategically price the products and help them regain control, save time and drive profitable business growth.

NSURE Pricing Engine

Features

  • NSURE pricing engine solution serves as a one-stop-shop for premium computation
  • NSURE Pricing Engine solution facilitates, processing of pricing, right from origination to delivery with pricing-centric workflows such as Maker-Checker, Approval/ Rejection, and others.
  • The pricing engine ensures the resting control on the computation mechanisms with the Business Users, driven by the dynamic needs of underwriting guidelines and rules, from the de-tariff market
  • An inbuilt ability to verify the change performed by the logic or factors
  • NSURE Pricing Engine solution possesses frameworks to build different “risk-based” pricing models as per the needs of the lines of businesses (LOBs)
  • Seamless integration with any third party system
  • NSURE Pricing Engine solution provides the underwriters/business users;
    • A tool that enables them to control and define the rules to be followed for each of the classes or portfolios under a specific LOB
    • An interface that enables them to make necessary changes that require an immediate impact in the live BAU environment
    • An inbuilt ability to quickly test the change performed on the logic or facts

Benefits

  • Configurable rating engine
  • Flexible product configurator
  • The risk is priced based on parameters/factors
  • Designing of pricing model for new products becomes easier with pricing engine
  • Single source for premium calculation
  • Formula-based (Mathematical) configuration
  • NSURE Pricing Engine can be enhanced by a modular concept for other product offerings even in life and health insurance segments
  • Business logic can be shared across applications, thereby promoting consistent behavior throughout the enterprise
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