Why the perfect formula for pricing tools doesn’t include Excel
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hx Renew empowers insurers of small and medium enterprises (SME) to unlock newfound pricing capabilities and boost combined ratios. Dynamically fine-tune your models, solve across distribution channels, ensure effective referral processes, and leverage robust data-driven insights across your pricing workflows.
SME insurers face delays in adjusting pricing tools embedded within their Policy Administration Systems or external software house, hindering responsiveness to insights and forcing them to bear unprofitable risks while unable to make strategic changes.
Managing multiple distribution channels makes it difficult to analyze an entire business portfolio and conduct 'what-if' scenarios. This manual process is time-consuming, causing underwriting strategies to lag and unexpected deviations from planned goals.
Working with various distribution channels introduces a risk of overlooking promising opportunities. The complexity of navigating these channels can make it challenging to thoroughly evaluate the advantages and disadvantages of potential submissions.
Self-service lets you modify pricing algorithms, rates, and rules without IT involvement
Leverage the power and flexibility of Python
Ready-to-use model templates
Single point solution for all your distribution channels (including software houses, flow pricing, direct web, and more)
Seamlessly conduct portfolio level and what-if analyses
Assess portfolio level implications at the time of writing individual risks
Seamlessly manage your referral rules, so underwriters can focus on value added risks
Leverage dynamic UI for clear risk assessment in underwritten and referred business
Integrate with both internal and external tools, removing the need to rekey data
Research, news, and opinions to help insurers make intelligent decisions