Reason #3: Increase profitability

ESRI (UK)’s Insurance Platform enables insurers to increase profitability throughout every stage of the insurance process

"The ESRI (UK)’s Insurance Platform in practice, delivers an RoI in excess of 1000%"

Drive the top line

The insurance industry used to be a very different animal from any other. Even just a few years ago, you could maintain a healthy profit despite having Combined Operating Ratios greater than 100%.

Today, however, things have changed, and CORs of over 100% are out; interest rates are low, making it difficult to make profit through investment. In fact, for the first time in a long while, insurance companies now find themselves needing to make money out of underwriting alone.

ESRI (UK)’s Insurance Platform can drive greater profitability throughout every stage of commercial property insurance processes.

• More accurate risk assessment means better premium setting for high risk areas – increasing revenue
• More accurate risk assessment also means more competitive policies for genuinely low risk areas – and this can be achieved without sacrificing profitability to grow the business
• Richer geographic analysis provides the opportunity for more targeted sales and marketing activities to drive revenue generation
• Minimising exposure to risk means fewer claims – freeing resources to service a larger portfolio
• With more fraudulent claims being identified more quickly through easily accessible location-based data, the cost of handling fraudulent claims is lowered

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