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Build sophisticated raters whilst simplifying your underwriting process

hx Renew offers something new: powerful tools, flexible integrations, and an intuitive, connected workflow between actuaries and underwriters, helping you eliminate admin and deliver growth.

Challenges for reinsurers

When it comes to rating complex risk, out of the box solutions simply won't do. Home-grown tools offer a customized alternative, but they struggle to scale and are prone to break — especially during busy renewals seasons.

1-1 renewal season

1-1 renewal season

During renewal season, reinsurers must handle a signifcant number of submissions, each requiring them to thoroughly analyze risks, assess exposures, negotiate terms, and define rates. Efficiently managing this process necessitates significant resource allocation.

Building sophisticated models

Building sophisticated models

Legacy technology lacks the required capabilities and flexibility for complex data analysis, modelling techniques, and advanced algorithms. This hinders accurate risk assessment, impedes decision-making, and inhibits the ability to respond quickly to market changes.

Managing peer reviews

Managing peer reviews

The need for rigorous evaluation and validation of underwriting decisions can result in lengthy and time-consuming procedures. Teams must coordinate multiple stakeholders, manage feedback, and ensure consistency across the board.

How hx Renew helps

Streamline underwriter workflows

Streamline underwriter workflows

  • Rapid peer review processes accelerate quote to submission 

  • More data and insights available at the point of underwriting

  • Integration with wider ecosystem for streamlined workflows 

Accurately rate complex risk

Accurately rate complex risk

  • Build sophisticated reinsurance raters  

  • Leverage real-time data and portfolio level insights  

  • Conduct what-if analysis and run exposure scenarios

Reduce business and technology risk

Reduce business and technology risk

  • Embed business rules and compliance controls

  • Built-in versioning and audit trails for rater comparison and compliance 

  • Apply roles-based governance processes around rater releases 

We have found hx Renew to be an excellent rating and underwriting tool. The Python development environment is intuitive and comes with a load of pre-built insurance features – a big step forward from spreadsheet models which took up a lot of actuarial time to maintain.

Samantha Tanner | Chief Actuary, SCOR

No data put into hx Renew is lost. With Excel, everything gets trapped in a spreadsheet and is unusable in the long run. In Renew, we can aggregate all of our rating data, for example, by line of business, and use that to create our development factors. The ability to move a case easily from one year to the next to help with renewing the policy is valuable for the team.

Stuart Quinlan | Deputy CEO and COO, Conduit Re

One of the challenges of growing a broad, global, multi-platform (re)insurance business is ensuring that legacy systems do not limit our ability to move quickly and respond to new opportunities. hx Renew is a key part of our strategy to ensure our rating capability remains ahead of our competition as we grow and evolve.

David Tribe | Group Head of Pricing - Canopius

Learn more about what hx Renew can do for your business