EMB Prism

Pricing Software for Commercial Insurers & Reinsurers

EMB Prism is a unique pricing toolkit supporting both junior and senior underwriters in the commercial insurance and reinsurance market. Everyone agrees that profitable underwriting demands the highest possible technical standards. Achieving them in a fast moving commercial environment can be another matter. Underwriters using a manual process will often not have the time to carry out a detailed technical review of an individual account. The EMB Prism toolkit enables technical reviews to be conducted in a timeframe that is realistic given the urgency usually involved.

The software makes it possible to share information efficiently with reserving actuaries and those responsible for planning and forecasting. It keeps a reliable record of all quotes, signed contracts and the assumptions and reasoning leading to decisions. A benchmarking database is also included with the software that can be used to store both in house and market wide information. Appropriate benchmarks can be downloaded into EMB Prism's pricing module to validate the pricing process.

Pricing tools include a spectrum of effective experience and exposure based rating techniques, while built in reserving capabilities simplify the projection of undeveloped data. EMB Prism's simulation capabilities can be used to assess the impact of contract variations. Decision support capabilities are provided to indicate how profit and other target measures are affected by adjustments to Slip details. EMB Prism is designed specifically to meet the needs of time constrained underwriters. By combining information storage facilities with powerful pricing and simulation tools, the software multiplies the effectiveness of underwriters by enabling better informed decisions in compressed time scales.