How MavenBlue empowers Bovemij

When working with Non-Life Insurers on Pricing there is only one focus – maximize the performance of said pricing models. The work MavenBlue performed with Bovemij was targeted on achieving just that.

Unlocking Insights into their Pricing Strategy with EPM

The goal of Bovemij was to improve the robustness of their pricing methodology. Moving into a single environment in which Bovemij could maximise collaboration, transparency and control. The Enterprise Pricing Management (EPM) platform enabled Bovemij to quickly incorporate their pricing models. Laying the foundation for further enhancements of their pricing models in the future.

Challenge

Improve the robustness of pricing processes.

Our solution

EPM enabled Bovemij to centralise their pricing processes. Maximizing collaboration, transparency and control.

Implementation

Implementation took place over the course of 2 months.

Results

Bovemij can now better calibrate the risk drivers in the pricing models and going forward can further enhance the performance of their pricing models.

Client

Bovemij

Summary

Bovemij - A Dutch insurer servicing both personal and commercial customers.

Services

Following the execution of a Tariff Scan, Bovemij chose the MavenBlue EPM Platform to develop their pricing models.

Seeing the Forrest Through the Trees

Improving the performance of pricing models can mean different things to different insurers. It can be complicated to incorporate increasing volumes of data points, applying new technology to develop models and insurers want to move on from the need to build pricing rules to get pricing models into the market. EPM enabled Bovemij to create more structure around these processes, making it easier to build on top of previous improvements.

The Key Word is Trust

The engagement between Bovemij and MavenBlue was strong. Through this mutual trust we were able to lift Bovemij’s pricing models into a more robust setting in a relatively short amount of time. In addition, through the use of advanced analytics MavenBlue was able to quickly recalibrate risk models. Improving their accuracy while also developing a pricing strategy that delivered on their goals.

Innovation through Customer Intimacy

"MavenBlue really engages in the use of EPM. Enabling us to make it a success. In addition we are constantly engaged to expand and improve the capabilities of the EPM Platform."

Bernard van den Berg

Senior Actuary, Bovemij

Enhanced Solutions & Expert Support

Empowering Your Projects

We developed standardized approaches for several studies that can be performed with our software cloud solutions. These approaches can be offered to you as supplementary services.
Next to this our specialists are available for temporary projects in risk management, pricing, the actuarial field and IT.

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