hyperexponential launches its first reinsurance pricing model

hyperexponential, a pricing platform for global re/insurers, has launched its first templated reinsurance model aimed for treaty reinsurance, including Excess of Loss (XoL).

This move, hyperexponential stated, marks the company’s next stage of expansion into the reinsurance market.

While reinsurers use proprietary models to distinguish themselves in the market, the industry has historically relied on complex and often time-consuming pricing procedures.

The new offering aims to differentiate itself by providing a flexible template allowing reinsurers to build tailored solutions without starting from scratch, accelerating the development of treaty models by up to 80%.

Developed in collaboration with Deloitte and global reinsurer feedback the model has been designed to be scalable for reinsurers of all sizes and will be available to existing customers through hyperexponential’s hx Renew platform later this month.

hyperexponential’s platform hx Renew sees over $45 billion of gross written premiums (GWP) contracted through it annually. It is an intuitive pricing platform that allows underwriters to capture, structure and analyse their data in a single place, enabling them to price complex risks with intelligent, data-backed decisions.

Jamie Wilson, Head of Pricing & Innovation, hyperexponential, commented: “This is an exciting strategic development for hyperexponential as we continue to broaden the breadth of our offering for the global (re)insurance industry. With our treaty model, we’re empowering reinsurers to focus on their unique intellectual property by removing the inefficiencies and cost traditionally associated with building models from the ground up.

“This will allow reinsurers to significantly accelerate their creation of customised models, helping them trade more dynamically. hx Renew’s advanced data capabilities, real-time reporting and state-of-the-art analytics will also help reinsurers run detailed analyses, assess portfolio impacts, and ultimately make more informed decisions to improve risk selection and profitability.”

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