Price Monitor is used by carriers and MGAs to monitor
pricing of individual accounts and individual insurance products. We have
developed Price Monitors for a number of Professional Liability products and
Commercial Multi-peril Packages.
|| Renewal-to-renewal method is simpler to implement since
monitoring only addresses the exposures, premiums, and modifications factors.
The rating plan does not need to be captured. Price changes are monitored only
on policies that were renewed from prior policy years.
||Benchmark-to-actual is a more involved process, because a
rating plan must be captured in the model. This method allows carriers to
monitor MGAs or MGAs to monitor retail agents on compliance with the corporate
The Price Monitor runs on a PC which allows our product to be
installed and running quickly regardless of what platform a company’s
core system resides on.