The definitive guide to commercial insurance renewal
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Reduced premium spend
In our latest Global Risk Technology Survey, over 60% of the 400 risk/insurance
professionals surveyed said they'd seen a reduction in risk transfer costs from using
risk technology tools. Furthermore, almost 20% said they'd achieved a 10% reduction
in premiums.
Qualitative research with our clients also follows these findings, with many showing a
positive impact of premium spend, and some reducing premiums by more than 10% for
specific lines of business.
These savings are typically derived from:
• Up-to-date and accurate information about all the company's risk and exposures.
This in turn ensures actuaries set appropriate reserves and provisions, and ensures
underwriter's pricing models are used to their full extent
• More focused insurance purchasing, which helps prevent over/under insuring
• Providing a clear picture of the loss prevention strategies and results
60% of the 400 risk/insurance
professionals surveyed said they'd seen a
reduction in risk transfer costs from using
risk technology tools
