2. 47%
of SME activities are wrong due
to submission manual mistakes and
lack of data updates during the
life of the policy
COMMERCIAL INSURANCE
What is the
Problem?
3. Collect SME online open data to classify
correctly activity, SIC codes and location
COMMERCIAL INSURANCE
Our solution
5. Marylebone Car
Centre
Activity Sale of vehicle
parts
Sale of used
cars
SIC N/
A
3315
Premium* $
1,080
$ 1,382
(+27%)
Address 68 Highfields Rd,
Witham CM8 2HJ
62 Balcombe
Street, London
NW1 6NE
Before After
Use online data to discover
hidden risks in existing
clients before renewals.
Increase premiums when risks
are higher and deny unwanted
risks.
KPIs
1. GWP Increase
(%)
2. Loss
Reduction
NOTE Wenalyze does not calculate the premium but provides the data to do
so more accurately.
COMMERCIAL INSURANCE
Data Analysis
Process
6. Before 2
hours
Implement API to ingest
submission data during
underwriting processes.
Reduce quoting times and
reject unwanted risks.
KPIs
1. UW Saved
Time (%)
2. Loss
Reduction
Website
Name
Address
Tax ID
Activity
Now 1
Min
COMMERCIAL INSURANCE
Underwriting
Automation
11. Portfolio data with 42% SMEs
of activity and/or address
updates
Top 3 P&C Spanish Carrier
with 50,000 SME clients
CARRIER DELIVERY
31% Premium Leakage
Prevented
GWP Increase of €2.4 M (+4%)
BENEFITS
Clients with bigger risks were
repriced before renewals
ACTION
CHALLENGE
Activity and address changes in SMEs are not usually identified unless manual action
is taken. Additionally, submission inaccuracies are often hidden. The carrier asked
Wenalyze to collect open data to automatically identify correct activities and
addresses.
PRODUCTS
Liability and Property Insurance
ROI
x7
CASE STUDY
Top P&C Carrier uses Wenalyze to Correctly Identify SME
Activities