Approach to Achieving Pricing Excellence

Focus on the Five Components

Intro to APE

Achieving Pricing Excellence

My principle is that an insurer's pricing must operate as an effective, well controlled continuous process. It is not a one-off project. I therefore, help businesses improve all aspects of their pricing practices. The full scope of this approach is captured by the 5Ps....

  • Position.
  • People.
  • Platform.
  • Process.
  • Production

Position

Understanding market context and setting objectives

People

Developing and organising the appropriately skilled people

Platform

Having the right data and tools to support the Pricing Function

Production

Having a reliable and accurate system for delivering prices to customer

Process

Having appropriate processes and controls over setting prices

The components of Achieving Pricing Excellence