AZURIA / Major Corporate
“How Azuria helped a Life Insurer to solve the challenge of providing a large quote within the challenges of the available operational bandwidth”
The Project – The Client’s initiative was to outsource the pricing of a large Group Corporate Life Insurance Contract
Project Requirements
- Addressing all aspects of the Request For Proposal (RFP)
- Pricing as per the Insurer’s approved models and processes
- Obtaining relevant signoffs for fulfilling Quote Requirements
- Deliverables constraint of 5 business days
Azuria Partner’s Contributions:
- Assembled a small project team consisting of an experienced actuary with supporting analysts.
- Completed a detailed experience review using historical insurance data, within 2 business days.
- Documented the key assumptions and decision drivers into a well-structured pricing report.
- Presented the analysis to key reviewers and approvers in the business.
- Responded to the RFP as per its requirements within the advised timeframes.
Results:
- The client was pleased with Azuria’s performance and contributions
- Specifically, the client appreciated Azuria’s deep research into the challenges and opportunities presented by the contract.
- The insurer’s product and pricing response was submitted in the required timeframes.
