Please contact us to learn how our consultants can quickly and easily design, develop and deploy an Oracle Planning & Budgeting Cloud solution containing functionality such as net earned premium, expense ratio, minimum capital, combined operating ratio, average cost per claim, etc. We can create this impressive POC purely complimentary for your organization in order to help frame the internal business case conversation.
- Driver based approach to developing written premium for both new business.
- Use retention factor to determine written premium for renewal amounts
- Plan by different P&C products and their earned premium (auto, non-standard auto, homeowners, and renters insurance for example) based on written premium.
- Develop loss triangles and earned premium triangles incorporating in lag times due to processing systems
- Plan for loss adjustment expenses by product
- Simple assumed and ceded reinsurance logic
- Commission, premium taxes, and other insurance expenses that are based on new and renewal premiums
- Reports to support the above