Generating a premium comparison for a group of target
risks is a good first step. The premium comparison should
be supplemented by adding your distribution of business
and performing an average rate level analysis. Pinnacle's average
rate level analysis provides the following:
-
A benchmark for
establishing an overall rate level for companies with
little or no data;
-
Macro level competitive
analysis of your book of business; and
-
Analysis of the
impact of different rate levels
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The average rate level analysis is an
excellent tool for evaluating overall competitiveness
on a macro level. Further detailed analysis identifies
elements of the rating plan which are actually causing
premium differences. This is where relativity analysis
can help. Our relativity analysis provides exhibits for
the major rating variables adjusted to a common base,
which facilitates the identification of areas of competitive
advantage or disadvantage. Exhibits are produced for the
major rating variables, including:
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Premium
Comparisons | Territory
Maps | Clustering Models
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