About This Project
Selective Insurance's exposure is repriced every morning against currencies its treasury does not control. The number used to be assembled by hand from three systems before the underwriting desk opened. This is the work the system was built around.
Challenge & Approach
1. Client Challenge
Exposure Priced by Hand
Three Systems of Record
Overnight Currency Moves
Ready for the Underwriting Desk
2. Our Approach
Understand the Underwriting Work
The Exceptions, Written Down
Rules Taken From Underwriters
Written Blueprint
Run Beside the Desk
Solution Delivered
The task is specific: bring the records behind the exposure figure together and reprice it against currency movements. The system is built around the insurer's morning work, on its own platforms and under its own controls.
The Book as It Is Actually Priced
The starting point is the exposure figure and the work needed to assemble it. The process crosses three systems before the underwriting desk opens.
Rules Taken From Underwriters
Scoping establishes how the business prices exposure, which records it uses and which decisions belong to its people.
Repriced Every Morning
The system supports the morning repricing work against currencies the insurer's treasury does not control.
What the Work Depends On
The Exposure Figure
The number the underwriting desk needs, and the records that determine it.
The Connected Records
The three systems that previously had to be brought together by hand.
The Operating Context
The insurer's own platforms, people and controls define how the system runs.
Measurable Results That Demonstrate the Impact of Our Solution
Project Highlights
8x
Faster morning repricing
100%
Of exposure repriced every morning
25+
Factors priced per policy
Technology Stack
Results
Business Impact
Exposure repricing is built around the point at which the underwriting desk needs the result each morning.
Lyrion builds inside the business, on its own platforms and under its own controls, and continues to operate the system after go-live.
Overview
Client
Selective Insurance
Industry
Insurance
Services
Built and operated
Date
