Renewal Recommendations

Automatically monitor all your existing customers’ policies and quickly detect any changes and new risks during the renewal process.
increasegwp_renewals

Increase GWP

Update pricing automatically upon changes in the business, and identify new upsell opportunities automatically.
Reduce Loss ratio

Reduce Loss Ratios

Make sure you’re keeping eligible policies in your book and issuing cancellation upon renewal to non-eligible ones.
reduce expense ratio

Reduce Expense Ratios

Remove the manual work from the renewal process and maximize the policies that have been reviewed and approved.

How do Planck’s renewal recommendations work?

Upon renewal, Planck will create up-to-date insights for each business and automatically suggest which policies to renew, which should not be renewed, and which require special attention for pricing updates and upsell opportunities.

1.

Planck runs the about-to-renew policy in its system to create updated risk factors and insights.

2.

Planck compares the binded policy data to the up-to-date data.

3.

Based on the covered businesses’ eligibility and exposure changes, an actionable recommendation is returned (e.g. automatically renew, do not renew, inspect, new opportunities identified, etc.).

What will change with Planck?

Planck automatically generates renewal recommendations so underwriters can focus on new risks, coverage, premiums and exposure.
Expense Ratios:
Loss Ratios decreased by:
Renewal Decision:

Days

Minutes

Renewal Rates:

“Wait, but…”?

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.
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.
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.
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.
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.

Don’t let any policy go under the radar. Renew only qualified policies, uncover required pricing updates and find upsell opportunities.

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