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Due to its rapid growth within the health insurance segment, Bulstrad Vienna Insurance Group was in need to optimize its offering process. The company looked for a solution that augments and streamlines the work of underwriters, so it can continue to scale its business without the need to invest in additional manpower.

By utilizing historic data, A4E built specific risk/profitability analytical model accounting insurance offer details like GWP, options included, coverage limitations, brokerage discount, administrative costs, clients details like number of insured people, as well as their distribution by age, sex, presence of family members, etc.

Applying the risk/profitability analytical model to a client offer yields a result that commonly falls into three categories, denoted as Green, Red and Gray zones. The green one is representing offers that could turn immediately into contracts due to low risk of non-profitability. The red one is on the opposite end, by representing high risk of insurance contract loses. The gray one is the undefined field pointing that the offer needs further revision.

The solution is provided as a service and is integrated, via secured web API endpoints, with Bulstrad’s ERP system.