Conduit Re takes the road to pricing decision intelligence with hyperexponential

Using the world’s first PDI platform, hx Renew, Conduit Re can rapidly develop and iterate its pricing models and rating landscape.

Conduit Re currently leverages hx Renew to price approximately 85% of its business, with the platform expertly supporting the complexity and size of models required for modern reinsurers across all lines of business.

Out with dark age pricing and in with pricing decision intelligence

As a fast-growing startup, Conduit Re wanted the ability to rapidly develop and iterate its pricing models and rating landscape, with no tolerance for time-consuming manual processes such as data rekeying.

When the company realised hyperexponential had gone through the Lloyd’s Lab alongside some other products it was considering and had out-of-the-box integrations with these tools, hx Renew was a clear winner.

The PDI platform creates a feedback loop that continuously strengthens insurers’ data assets, insights, and decisions. This feedback loop helps Conduit Re deliver more accurate account pricing and data-driven portfolio steering.

Benefits of pricing decision intelligence

Pricing decision intelligence (PDI) is a new approach to pricing that uses data and analytics to help insurers make better pricing decisions. PDI platforms like hx Renew can help insurers to:

• Improve the accuracy of their pricing models
• Reduce the time it takes to develop and deploy new pricing models
• Make more informed pricing decisions at the point of underwriting
• Improve the profitability of their underwriting portfolios

Conduit Re’s decision to adopt hyperexponential’s hx Renew platform is a clear sign that the company is committed to using the latest technology to improve its pricing capabilities. PDI is a rapidly growing area of the insurance industry, and Conduit Re is well-positioned to benefit from this trend.