Hyperexponential has introduced a new reinsurance pricing model aimed at cutting development time for treaty models by up to 80%. The new model is designed for treaty reinsurance including excess of loss (XoL).
This latest offering is part of Hyperexponential’s expansion into the reinsurance market, aiming to simplify the traditionally time-consuming process of creating customized pricing models. The model was developed with input from Deloitte and global reinsurers, with a focus on scalability for both small and large treaty portfolios. It will be available later this month through the company’s hx Renew.
“This is an exciting strategic development for Hyperexponential as we continue to broaden the breadth of our offering for the global (re)insurance industry,” said Jamie Wilson, Hyperexponential head of pricing and innovation. “With our treaty model, we’re empowering reinsurers to focus on their unique intellectual property by removing the inefficiencies and cost traditionally associated with building models from the ground up.”
By offering a flexible template, Hyperexponential seeks to help reinsurers create tailored pricing models more quickly while leveraging advanced data analytics, real-time reporting, and portfolio analysis through the hx Renew. The platform processes over $45 billion in gross written premiums annually, supporting reinsurers in pricing complex risks and improving portfolio management.
In addition to faster model development, hx Renew offers advanced data capabilities and analytics to help reinsurers run detailed analyses and make more informed decisions. Hyperexponential claims that the platform has already led to a 1-2% improvement in loss ratios for its clients.
