Ratabase Actuarial enables enhanced decision-making through simulation and analysis, increasing pricing accuracy and speeding up the product innovation life cycle.
To grow and remain competitive, insurers need to quickly bring new innovative products to market while continuously modifying existing products to maximize underwriting profitability and capture new segments, offsetting rising loss settlement costs, inflation, and other market dynamics beyond their control.
Traditional product life cycles often involve manual processes that slow the time from concept to production and hamper integration with the latest technology advances. This multi-step process spans many aspects of the organization, including product management, actuarial, regulatory compliance, and IT. Ratabase Actuarial addresses these challenges, dramatically improving workflows and agility, by bringing different teams together, while reducing cost and time to market.
Ratabase Actuarial is an add-on and works seamlessly with CGI’s proprietary rating and pricing engine, Ratabase. It is a powerful actuarial toolset that supports experimentation, simulation, analysis, and promotion. It drives efficiency, actuarial confidence, and pricing accuracy within the product innovation life cycle.
We deliver Ratabase Actuarial as a prebuilt, cloud-based, software-as-a-service offering, enabling you to connect external data sources, reduce the cost of integration, and improve platform scalability.