< 100 % driving combined ratio powered by it vision
TRANSCRIPT
< 100 %DRIVING COMBINED RATIO POWERED BY IT VISION
Insurance is easy !
COMBINED RATIO
OPERATIONAL EFFICIENCY OF INSURER> 100 % BAD< 99 % GOOD
LOOKS STILL SIMPLEBUT WITH ANOTHER SIMPLE QUESTION:
HOW TO GET CR UNDER 100 HERE?
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Insurance is not easy!
Can IT VISION help?
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SOME PARAMETERS ARE DRIVEN BY PRINCIPLES
INSURER MUST PAY INCURRED LOSSES CLAIM FREQUENCY IS LOW
PREMIUM MUST BE REASONABLE AVG IS SIMILAR TO EURO21
CLAIM RATIO CLOSE TO 40 ITS EXPECTED AND REALITY
RISING NET PREMIUM WRITTEN IS EXPECTED DOUBLE GDP GROWTH !!!
WHERE IS THE PROBLEM THAN?
EXPENSES !!!
EVALUATE YOURSELF FOR CMTPL OR MOTOR!
COST OF OPERATIONS > 20 % OF GWP
COMISSIONS AVG > 25 % OF GWP
OTHER FEE/COSTS = 5% OF GWP
IT COSTS <<< 3 % OF GWP
FRAUDS > 7 % OF GWP
WELL YOU MIGHT BE IN TROUBLE !!!
Can IT VISION help?
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SOME PARAMETERS ARE DRIVEN BY PRINCIPLES
INSURER MUST PAY INCURRED LOSSES
PREMIUM MUST BE REASONABLE
CLAIM RATIO CLOSE TO 40 IS EXPECTED AND REALITY
RISING NET PREMIUM WRITTEN IS EXPECTED
WHERE IS THE PROBLEM THAN?
EXPENSES UNDER CONTROL
EVALUATE YOURSELF FOR CMTPL OR MOTOR!
COST OF OPERATIONS < 20 % OF GWP
COMISSIONS AVG < 25 % OF GWP
OTHER FEE/COSTS = 5% OF GWP
IT COSTS 2 % OF GWP
FRAUDS < 7 % OF GWP
YOU WILL NOT BE IN TROUBLE !!!
VISION Introduction
V VALUE ENHANCING CUSTOMERS’ PROFITABILITY BY PROVIDING SUPERIOR
PRODUCTS AND SERVICES
I INTEGRITY UTMOST GOOD FAITH IS THE UNDERLYING PRINCIPLE OF GENERAL
INSURANCE. UTMOST GOOD FAITH IS ALSO THE UNDERLYING PRINCIPLE OF ALL THAT IS GRATEX
S SERVICE WE ALWAYS PLACE THE CUSTOMER’S NEEDS FIRST
I INOVATION LEADING THE INSURANCE AND BUSINESS COMMUNITIES BY USING
NEW TECHNOLOGIES COMBINED WITH KNOWLEDGE MANAGEMENT MOST EFFECTIVELY
O OPPORTUNITY HELPING CUSTOMERS DISCOVER BETTER WAYS TO MEET
THEIR BUSINESS OBJECTIVES. WE SEEK TO MINIMIZE THREATS AND MAXIMIZE OPPORTUNITIES
N NOW UNITING GREAT PEOPLE, RELIABLE SOLUTIONS, AND STELLAR SERVICE
AT ALL TIMES.
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who we are
CORE BUSINESS
DEVELOPMENT OF CUSTOMIZED SOFTWARE APPLICATIONSAND SYSTEM INTEGRATION
Established in 1991
More than 350 employees
IBM Premier Business Partner, ORACLE Gold Partner,
MICROSOFT Certified Partner, HP Gold Partner,
SYMANTEC, T-COM, SAP, CISCO, Samsung SDS
SINCE 1994 IN INSURANCE
GRATEX INTERNATIONAL HAS BEEN AWARDEDTHE INNOVATION OF THE YEAR AWARD2014 AUSTRALIAN INSURANCE INDUSTRY AWARDS.
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where we are
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Kenya
Philippines
Bucharest
ready tools low 3rd party costs
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UPM BI Reporting
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Customers about UPM
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Customers about UPM
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Subrogation
IN MOTOR BUSINESS ITS KEY TO SUPPORT AND SHARE USEFUL INFORMATION TO FIGHT AGAINST THOSE WHO CAUSE DAMAGE AND BREAK BASIC RULES.
EFFECTIVE SUBROGATION RULES IN FORCE WILL DRIVE NEW BUSINESS ALSO AND HELP REDUCE CLAIM COSTS.
OPTIMIZE CAR ACCIDENT SUBROGATIONS & FIGHT FRAUDS
START WITH
CONSOLIDATED CASCO CLAIM REGISTER
INTEGRATED WITH THE CMTPL AND
GREEN CARD CLAIMS
INTEGRATE WITH IAMAS & VEHICLE REGISTER
optimize
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Fight frauds
FRAUD COSTS THE INSURANCE INDUSTRY MILLIONS, IF NOT BILLIONS, EACH YEAR.
IN RESPONSE, INSURERS ARE MARSHALING THEIR DATA RESOURCES AND CREATING A MULTI-CHANNEL APPROACH TO FRAUD DETECTION.
THEY’RE TAKING A VERY CLOSE LOOK AT BOTH TRADITIONAL STRUCTURED DATA (SUCH AS CLAIMS AND POLICY DATA), AND TEXTUAL DATA (SUCH AS ADJUSTOR NOTES, POLICE REPORTS AND SOCIAL MEDIA).
INVEST TO THE FRAUD DETECTION SYSTEMS
zero tolerance
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IT VISION
CAN YOU AS INSURER AFFORD THE RISK OF DRIVING INTERNAL STAFF FOR IT SYSTEM DEVELOPMENT?
CAN YOU INSURE THIS RISK?
CAN YOU IMAGINE TO HAVE INTERNAL IT WITH LESS THAN 7 FTE?
CAN YOU BUY AND KEEP THIS TEAM WITH YOU WITH MONTHLY COSTS BELLOW 10 000 AZN?
WE OFFER YOU OUR IT VISION AS LONG TERM BUSINESS PARTNERSHIP WITH RISK COVERED AND PRICE OPTIMIZED TO REDUCED FTE CAP LINKED TO YOUR GWP
AND YOU CAN CONCENTRATE ON NEW CUSTOMERS AND NEW BUSINESS
Fair Proposal
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Education
HOW MUCH TO INVEST?
TO WHOM?
HOW?
WHERE?
WHEN?
Premium Growth
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Best Book? Children’s book
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Best Book? Children’s book
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Best Book? Children’s book
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Best Book? Children’s book
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Best Book? Children’s book
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Best Book? Children’s book
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How about us?
DOES MY CHILDS UNDERSTAND INSURANCE?
HOW ABOUT MY FAMILY RISK?
HOW ABOUT MY BUSINESS RISK?
HOW ABOUT MY LIABILITY RISK?
HOW ABOUT MY CLIENT RISK?
DO WE READ FAIRY TAILS?
DO WE READ BOOKS?
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IT WILL NEVER HAPPEN TO ME !EVERYONE BUYING INSURANCE BY PRICE?
IS THERE ANYTHING MORE IMPORTANT THAN SECURITY OF MY BUSINESS OR MY FAMILY?
MANY BUSINESS OWNERS AND MANAGERS WILL SPEND MORE TIME CHOOSING THEIR MOBILE PHONE THAN CONSIDERING ANY FORM OF RISK MANAGEMENT OR REVIEWING THEIR INSURANCE PROGRAM?
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IT MAY HAPPEN TO ME !
INSURANCE IS ALL ABOUT PROTECTION, NOT PRICE!
• WHEN LOSS OCCURES NO ONE REMEMBER THE PRICE OF INSURANCE.
• NO ONE WANTS TO NOW BE SHOWN THE FINE PRINT CLAUSE THAT EXCLUDES THEIR CLAIM.
• EVERYONE ARE HAPPY TO PAY 10 TIMES MORE PREMIUM TO BE BACK FULLY INSURED AND THEY COULD NOT GET THE CHECK BOOK OUT QUICK ENOUGH
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IT MAY HAPPEN TO ME !
1 OF 500 BUSINESSES WILL EXPERIENCE SEVERAL DISASTER IN THIS YEAR!
50% OF BUSINESSES THAT SUFFER A MAJOR LOSS, FAIL WITHIN 2 YEARS!
NOT ONLY ARE THE LIVES OF THE BUSINESS OWNERS AFFECTED, BUT ALSO THOSE OF THEIR FAMILIES AND THEIR EMPLOYEES!
INSURANCE IS ALL ABOUT PROTECTION, NOT PRICE!
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thank you
GRATEX INTERNATIONAL A.S.
GBC IV, Galvaniho 17/CBratislava, 821 04Slovakia
www.gratex.com
GRATEX INTERNATIONAL AUST PTY
Lakes Business ParkUnit G1, 2B Lord StreetBotany, NSW 2019Australia
www.gratex.com.auwww.gtiinsurancesolutions.com
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