MVR Predictor
Sixty-five % of the MVRs ordered today by insurance companies and brokers confirm what their policyholders told them. But which ones are telling you the truth? With ever increasing MVR prices from governments across Canada, MVR Predictor can help you dramatically lower your costs by telling you which policyholders you should order an MVR on, and which ones you shouldn’t. Contact (autoplus@cgi.com) for more information on this predictive analytics solution and the opportunity for a free proof of concept.
HITSPlus
The focus of insurance is risk management. The better you are at assessing and mitigating your risks, the more successful you will be. CGI is in the business of delivering the information and tools insurers need to effectively assess risk and increase profitability. Putting our decades of insurance experience into action, we developed an innovative risk-scoring tool for habitational insurance underwriting called HITSPlus (Property Loss Underwriting Score).
With HITSPlus, you can predict the probability of a future claim occurring and its severity within the first two years of a policy’s inception or renewal. The HITSPlus score is generated using current claims history and certain elements of behavioural patterns found in credit data. HITSPlus combines these predictive components into a single, user-friendly predictive model that gives insurers the power to predict the future - the probability of a claim and the average value of the claim.
The HITSPlus score is provided as part of CGI’s HITS™ (Habitational Insurance Tracking System) report, a comprehensive summary of valuable property claims information. Together, HITS™, HITSPlus and our other HITS™ tools provide insurers with all they need to enhance the efficiency, consistency and profitability of their habitational underwriting processes.
Summary of Benefits
- Protects your portfolio from poor risks
- Aligns premium charges with claim exposure
- Keeps rates competitive
- Reduces claim expenses
- Excellent return on investment
- Easy- to- use interface
- Accurate and up-to-date claims and credit information