MarketStance Custom Solutions
for Underwriting
Tired of beating
your head against one more of the industry's
seemingly intractable challenges? MarketStance
can help with a highly skilled specialist
insurance statistical and analytical consulting
resource.
MarketStance
possesses deep and invaluable experience
in the insurance industry. We are not hobbled
by the regulatory constraints that limit
actuaries. Because of this, we can bring
new techniques, tools and thinking to analyzing
elements of your business, and produce new
solutions.
Unlike
the "big name" consulting companies,
MarketStance focuses on the functional and
actionable. We deliver insights you can
use to make your firm more effective and
successful. Example:
MarketStance Performance Insights
If you're looking to add more
precision to your planning, maximize your
company's potential for profitable growth,
or improve the alignment between what's
being written and what you want to write,
MarketStance Performance Insights can help. This suite of
innovative analytical capabilities addresses:
- A carrier's
current underwriting stance,
- The commercial
risk marketplace,
- The capabilities
of appointed agencies, and
- The carrier's
line of business mix.
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MarketStance Performance Insights shows you
how your firm's growth potential plays out
geographically. It also establishes a shared
organizational perspective that provides a
dramatically different and more informed framework
for integrated planning. By using market-based
versus line-of-business based, and bottom-up
versus top-down techniques, MarketStance helps
define optimal underwriting appetites and
then correlates that with growth potential.
MarketStance:
- Measures
how well appetite fits the business
available in a given territory
- Reveals
possible opportunities being missed,
based on indications within currently
produced business
- Determines
how consistent a current book is
with a desired appetite
- Demonstrates
which industries are growing and
which are shrinking
- Ranks
in-appetite classes with the most
opportunity, state by state
- Illustrates
reasonable 1-3 year growth objectives.
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More
on MarketStance Performance Insights
Example: MarketStance
Classification Mapping Tables
Breaking through the information
silos caused by the multitude of insurance
coding systems can improve data integrity,
productivity, and produce better management
information.
MarketStance has
directly mapped NAICS classification codes
to the industry GL classifications, adding
to its established NAICS to SIC mapping
and business class to workers compensation
class mapping systems.
Developed through
a bottom-up underwriting analysis of NAICS
to GL class correspondence, MarketStance
Classification Mapping is solidly focused
on underwriting issues. It includes a significant
proportion of one-to-one mappings and a
98% match of GL codes, both advantages over
other available translations.
MarketStance works
with carriers to refine these mapping tables
to their specific needs.
Sample
mapping - click here to see
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