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PROPERTY PRICING MODEL

Streamlining Underwriting and Pricing for Property Insurance through Advanced Tech Integration by Morgan Hill Consultants

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AT MORGAN HILL CONSULTANTS, WE ARE DEDICATED TO SOLVING COMPLEX CHALLENGES WITH INNOVATIVE TECHNOLOGY.

Here is how we transformed underwriting processes for a major insurance client, achieving remarkable results.

CHALLENGES

Spreadsheet Limitations: Reliance on spreadsheets led to frequent system crashes and insufficient computational capacity severely hindering performance.

Integration Inefficiencies: Updating, maintaining and linking spreadsheets was complex and ineffective.

Manual Data Entry: A heavy reliance on manual data input was impacting use of resources and their time.

Scattered Data: Data dispersed across various sources and users complicated the reporting process making quarterly and annual reviews labour intensive and time consuming.

Property Pricing Analytics Dashboard

SOLUTIONS

RESULTS

Simplified Underwriting Processes: Significant increase in speed with account ratings happening over 4 times faster than before.

Computational Advancements: Enhanced computational power facilitated quicker access to more extensive and comprehensive information, aiding better decision-making.

Reporting Transformation: Our solution eliminated the need for manual data compilation for year-end and quarterly reports.

Optimised Working Environment: Underwriters benefited from a more connected and efficient workspace enabling them to process more risks swiftly and utilise extensive data for improved decision making.

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ROOF DAMAGE MODEL

Harnessing the power of Machine Learning we delivered a fast and accurate solution for a leading insurance company which wanted to accelerate their roof damage assessment process.

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DATA EXTRACTION CASE STUDY

Morgan Hill's team of experts enabled a major insurance company to make better decisions and operational efficiencies by delivering a bespoke Machine Learning solution.

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COST EFFICIENCY

Using advanced algorithms and data processing techniques, Morgan Hill identified and optimised cost efficiencies across the IT supply chain of a major UK retail bank.

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EXPLORATORY WORKSHOPS

We offer exploratory workshops to analyse your business landscape, identify key issues, and brainstorm bespoke solutions with our experts and your team.

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