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Classifier
Advanced Categorization for Personal Lines & Small Commercial Insurance
Geographical location is a key driver of claims experience in many lines of general insurance business. However, there is considerable variation in the rating of individual postcodes between insurers. This variation is not surprising as the estimation of rates at such a granular level is a difficult exercise, since there are often few policies in any one postcode. It is therefore essential to adopt a combination of statistical techniques utilizing both internal and external data to derive the best possible assessment of geographical risk and the appropriate categorization into districts.
Assess geographical risk to gain competitive advantage
Classifier is a tool specifically designed for the assessment of geographical risk, allowing users to choose from a range of the latest statistical techniques and to combine the best of internal and external data. With the large variation in geographical rating in the market, getting the correct geographical assessment will give you a real competitive advantage.
Classifier is a highly visual and interactive tool that allows you to tailor your project as appropriate to the data and the business application. Tree diagrams help you visualize the project. By pointing and clicking you can quickly set the order and dependences of each operation - complete flexibility is in-built, so you are not restricted to a "one solution fits all" process.
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