Traditional optimisation methods are not possible post-GIPP. Best practice design in optimising renewing customers first to then plug into new business value calculations is a thing of the past. Most companies approach this new landscape by focusing on new business optimisation and then just checking that the impact on renewing customers is acceptable enough. Our unique design innovation allows you to optimise new business and renewals simultaneously and select a price that is the best combination of the two.
- No more renewal price changes that only affect 10% of the customer base due to hitting the equivalent new business price.
- Allow for flexibility across customer cohorts, allowing you to be aggressive in new segments whilst protecting profit margins.
- Ensures that you maintain a strong long term strategy, rather than compromising on short or long term priorities.
- We have deployed this successfully for two clients already who have both seen the expected uplifts predicted.
- Our bespoke and innovative algorithm design is both easy to use and highly reliable.
- Works seamlessly with the optimisation methods that we all know and love.
- Fully GIPP compliant, to both the letter and the spirit of the regulations.
- All price changes can be modelled to prove that increases are not due to renewal indicators.
- Any factors with strong renewal correlation (e.g. customer age greater than new business footprint) are accounted for.
- We align your new business and renewal data schemas to ensure that all customers can pass through one algorithm.
- We bring in all new business and renewal models into the same algorithm and intelligently select between them.
- We redesign and rebuild the optimisation process to blend them together, and then weight value to get best mid-point price.