Marshall & Swift/Boeckh (MSB) has launched a new integrated suite of business intelligence solution 'InFocus Solutions' to allow property insurers to diagnose concerns and act on opportunity areas within their books of business.
According to MSB, it has identified six opportunity areas that property insurers’ need to understand and act upon to help fuel measurable enhancements in profitability which includes: leakage; sales channel performance; risk selection; loss prevention/loss mitigation; pricing accuracy; and lack of policy count growth.
The new InFocus Solutions segments books of business by loss ratio, loss costs, retention, frequency, severity, ITV coverage adequacy and/or distribution channel performance. Within each segment, it identifies variables that drive results and allow insurer to complete detailed root cause analysis.
In addition, the new solution also enables carriers to compare their books to rest of industry while analysis on property profile distribution and coverage adequacy generate actionable insights into insurers’ books. The analysis can be completed within 60 days or less with minimal involvement from insurer IT resources.