Because MarketStance helps you see
with fresh eyes
Becoming a great underwriting company
has long been proclaimed the route to
sustained profitable performance. Studies
have documented the correlation between
underwriting performance—as measured
by the combined ratio—and overall
returns. Yet, the obstacles to being a
great underwriting company are significant.
Information resources are key to overcoming
these hurdles. MarketStance remains the
only source for comprehensive and timely
information and analytical techniques
that are both relevant and easily applicable
to insurance management needs. MarketStance
helps you overcome the traditional shortcomings
of industry information resources —
and see new potential.
Insurance is inherently complex.
Exit barriers, undifferentiated products,
rating engines that lag external trends,
and a multitude of transaction level challenges
are just a few of the stumbling blocks
to performance.
Compounding the industry's challenges
is its use of unique coding systems which
have created isolated channels of information
that do not "play well with others".
This has forced a dangerous reliance on
data internal to the industry. Not just
"narrow", this data typically
suffers from age, increasingly spotty
reporting, "share down" methodologies
that produce artificial consistency, and
conclusions drawn from inadequately sized
samples.
As a result, decisions are too often
colored by outdated, missing or misleading
data that stymie performance progress.
Taking a different approach
In the late 1990s, Fritz Yohn (a PhD in
Economics) applied his unique combination
of skills in economics and statistics
with his experience in insurance and invented
a new form of information resource.
Called MarketStance, this innovation
represented a dramatic step forward in
decision support tools for the insurance
industry and overcame the traditional
limitations of the information resources
being used.
Today, MarketStance remains the only
source for comprehensive and timely information
in a single unified resource, and which
has become an important tool for all but
two of the top 20 P&C carriers.
To build this information, MarketStance
integrates data from large numbers of
sources, both government and industry,
to provide richer and more detailed descriptions
of insureds and markets. Not only does
MarketStance overcome the confines created
by coding systems, it successfully maps
information captured by one system to
others to yield a more complete and descriptive
view. MarketStance also actively addresses
the timeliness of its information by updating
and forecasting source data so that all
the items pertain to the same year.
Equally important, MarketStance knows
how to apply information from a variety
of sources practically, and to utilize
analysis techniques that have proven effective
in other industries.
MarketStance makes it possible to approach
stubborn issues with new eyes, and to
use that insight to help clients make
better decisions.
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