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Custom Solutions
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.
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.
> 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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