Milliman launches competitive intelligence tool for insurers
Pixel™ uses data visualization and machine learning to create a precise and robust market view
SEATTLE, May 11, 2015 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of Pixel™, a competitive intelligence tool for insurance companies. Pixel is a web-based, interactive platform designed to give marketing executives, product managers, and actuaries a comprehensive and customized view of the market.
"Our clients want to know where they are vulnerable to the competition and how to position themselves to grow their book. Pixel allows company management to base decisions on a portfolio view of competitiveness, rather than on limited anecdotes from agents," said Milliman Principal Nancy Watkins. "Pixel takes in large volumes of data and enables users to analyze that information very quickly and easily. As a result, questions that used to take days or weeks to answer can be answered with just a few clicks."
"Homeowners insurance pricing is becoming more granular and complicated," said Werner Kruck, Security First Insurance Company chief operating officer. "Having a next-generation tool like Pixel helps us glean important market and consumer behavior metrics, allowing us to more accurately and competitively price our products."
Pixel applies advanced data visualization and machine learning techniques behind the scenes in an easy-to-use tool that analyzes premiums for a given company relative to the competition. Users can filter markets by geography and type of risk, and drill down into the variables that most impact their competitive position. Results are output in user-friendly datasets, charts, and maps that can easily integrate with other software. This information is useful not only in setting premiums, but also in arming agents with valuable information and supporting the regulatory process.
To read more about Pixel, go to http://us.milliman.com/pixel/.
About Milliman
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com
SOURCE Milliman, Inc.
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