Eligibility and Exposure Monitoring
Understand how your portfolio compares to the market and whether it requires optimization.
Reduce Loss Ratios
Monitor the health of your book in real time by automating ongoing exposure analysis and identifying risk events and growth opportunities.
Increase GWP
Identify potential segments and geographies to grow profitably by analyzing your portfolio versus the overall market.
Improve Pricing Adequacy
Implement underwriting guidelines and eligibility criteria consistently, minimizing over/under exposure.
How does Planck’s eligibility and exposure monitoring work?
Planck offers automated monitoring to businesses that have already been submitted to the platform for any of its use cases, and it runs for the entire book on a predefined schedule. Alternatively, the book can be sent as a single file (batch), which doesn’t require any integration, and insights will be returned to the carrier.
1.
The evaluation process is initiated and Planck creates up-to-date insights for all policies in the book.
2.
Changes in the book are highlighted.
3.
Planck returns covered businesses’ eligibility and exposure changes.
What will change with Planck?
Carriers can automatically monitor all existing customers and policies and react quickly to changes in exposure. Planck generates a high-level risk analysis as well as alerts that monitor changes in exposure.
GWP:
- 1-5%
Increase from New Risk Segments
Loss Ratios decreased by:
- 1-3%
Expense Ratios:
- 10–20% Improvement
“Wait, but…”?
Can Planck work with my underwriting guidelines/eligibility criteria?
Yes, Planck can process your underwriting guidelines and eligibility criteria, analyze the risk profile of your book of businesses, and compare it to the overall market to identify areas of under/over exposure and opportunities for pricing updates.
How frequently can Planck monitor the risk exposure of my in-force portfolio?
Planck’s platform is highly configurable, and the frequency of updates varies according to clients’ needs. Planck collects and processes data in real time, giving clients the ability to always monitor the true risks in their portfolio.
How does Planck ensure its data is of high quality?
Planck’s AI data platform collects data from thousands of sources and uses its advanced technology capabilities to create real-time insights and achieve the highest levels of data accuracy in the industry. It continuously validates itself against verified data sets to maintain and improve its accuracy levels.
What does Planck’s coverage rate look like?
Planck offers the highest hit rate in the industry, finding information and insights for more than 90% of small and medium businesses in a given segment.
Can Planck configure insights to meet my specific needs?
Planck offers hundreds of data insights off-the-shelf. These insights can be configured to match your business’s specific needs. Furthermore, Planck has high configurability capabilities, so additional and specific insights for your unique business needs can be added.
