Risk Accumulation Tool

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The quality of underwriting process within each insurance company has a profound impact on the loss ratio of an insurer. It is therefore essential for insurers to assess the risk selection and exposure accurately, and make informed decisions that maximise the underwriting performance and its results. Assessment of accumulated risk is also important when issuing a new quote and policy.

A good graphical risk assessment is a must-have for any insurance company looking to review, and analyse risk accumulated by different types and locations, to lower the risk exposures.

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Product Highlights

The Beyontec Risk Accumulation Accelerator enables insurers to accurately review, analyse and underwrite individual and accumulated risks – by building, street, area, city, or country-wise – before making business decisions on new quotations and policies.

Effective Analysis & Control of Risk Exposure

  • Helps insurers analyse the risk exposures before making decisions – location of the risks, type of risks insured, and the total amount of current exposure across risks already insured.

Visual Representation using Maps

  • Using the address and geo codes of each location, the insurer can analyse and get a complete picture of all risk’s exposure in a pictorial map. This data is very useful during the treaty negotiations with reinsurers.

Effective Loss Control

  • Determine the existing exposure levels in any location or geo code before insuring additional or new risks in the same location, and implement effective loss and exposure control mechanisms.

Geo Coding of Risk Underwritten

Ascertain the risk based on geo coding to pin point the exact location of the said risk. This feature is highly valuable in situations where the risk address is not accurate or is part of a risk cluster.

Validation of Risk Exposure Exceeding Thresholds

The tool helps in establishing effective checks and balances to ensure the risk exposure per location is as per the defined thresholds, protecting insurers from risk overexposure.

Location/Risk based Threshold Configuration

Configure the risk threshold limits for each risk type upfront and ensure maximum protection from unplanned risk coverage and related loss-ratios.

Integration with External Systems

The tool is highly configurable and can be integrated with any core insurance system in quick time using standard API’s.

Measure Distance and Range Between Risks

The tool allows the measuring of distances between each risk, enabling insurers to make better informed decisions based on the distance between the risks insured.

Detailed Risk Exposure with Reinsurance and Claims Information

Real-time data on detailed risk exposure and the total reinsurance arrangement for certain location or region can be ascertained by just selecting all the risks in the location on a digital map.

Enforcement of Effective Risk Accumulation

Pre-configure and apply limits to risk exposure in a specific property, risk type or location to ensure effective risk management.

NAT CAT Integration

NAT CAT scenarios using best-in-class data standards and models are integrated on top of the risk information and location information to predict potential weather-related insurance losses.

Viewing of Risk before underwriting

Get precise information on the risk by zooming into the visual picture of the risk for better understanding before underwriting.

Visualize and map your risk-exposure with Beyontec Risk Accumulation Accelerator.

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