So many options, so many opportunities to do things differently - which way should you go?

There has never been a greater opportunity to bring together the available knowledge, expertise and power of technology to simplify and speed up claims handling, and to use the abundance of data and new technology to innovate.

CWMC can help you navigate through the opportunities and work with you to develop practical and effective solutions.


An innovative approach to new business

As a result of a longstanding successful relationship with this insurance company, CWMC was called in to investigate ways in which this company could reduce new business acquisition costs and improve the service to customers seeking motor or household insurance quotations.

We investigated all aspects of what they did and why, particularly challenging why certain information was wanted or needed in order to manage the underwriting process. We looked at what factors really did affect underwriting the risk, and what were the most accurate predictors of claims. We also conducted an indepth analysis of what external data was available to replace or supplement the information coming from customers, allowing the client also to better evaluate risk and pricing.

Following our work, the client achieved a 70% reduction in the number of questions customers were required to answer, and a 70% reduction in quotation time.


A calculated risk

We helped one of the UK's largest friendly societies create a more precise pricing structure by accurately calculating the risk. Sophisticated analysis of more than 200 variables enabled us to identify the key factors that influence the likelihood of a property claim. Armed with this knowledge, the insurer was able to price more competitively.

Our work also enabled the client to quote an indicative price almost instantly, freeing up contact centre staff and preserving callers' goodwill.

Contact CWMC today to start the first steps towards genuine, information-driven innovation.


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