E&S Carrier Expands into Admitted Commercial Lines Market Across all 50 States

CASE STUDY ACTUARIAL AND ANALYTICS E&S Carrier Expands into Admitted Commercial Lines Market Across all 50 states Xceedance supports rapid launch in the admitted space and enables superior maintenance to deliver compliant and profitable products. THE CLIENT A leading global excess and surplus lines carrier. BUSINESS CHALLENGE The carrier wanted to expand into the U.S. admitted commercial lines market countrywide. It was the company’s first entry into admitted markets, and the state-by-state regulatory requirements made it onerous to find support and proven subject matter expertise. Additionally, the carrier needed to integrate new products into its existing policy administration system (PAS) and sought ongoing support to ensure compliance, submit statistical reports, and monitor circulars. CASE STUDY © 2022 Xceedance

OUR SOLUTION The Xceedance solution consisted of the following: › Competitor Intelligence – Engaged business and program managers to understand the target market/product – Completed a comprehensive review of the competitive landscape and market trends › Filing Assistance – Developed the rating plan and provided actuarial support for filing with the state DOI – Provided end-to-end support for transmitting rate/rule/form filings to all 50 states – Facilitated expert forms review and transmittals preparation – Delivered timely responses to DOI objections along with supplementary materials, when requested › Product Implementation – Drafted IT specifications for the products to support policy administration system build – Performed user acceptance testing to ensure the PAS is compliant with the newly approved rates/rules › Circular/Bulletin Monitoring – Developed reports to track multiple circular updates by ISO and other advisory organizations – Monitored regulatory and bureau changes to understand the impact on the in-force business – Presented monthly updates to business leaders and discussed critical circular and action items › Statistical Reporting – Enabled penalty-free and on-time submissions for all leading bureaus and statistical agents – Catered to ad-hoc state data calls › Profitability Studies (Pricing & Growth Analytics) – Provided detailed, by state and by product, rate level indications every quarter – Completed analysis of the book of business to identify areas of profitability and address rate adequacy issues – Implemented monthly rate monitoring reports to derive deeper insights and pinpoint loss drivers PROVEN RESULTS Xceedance supported the carrier’s admitted products holistically to ensure profitability and compliance. With Xceedance involvement in developing, filing, implementing, reporting, and monitoring products, the client achieved better than anticipated speed to market, enabling it to write premium sooner than expected. About Xceedance Xceedance (www.xceedance.com) is a global provider of strategic consulting and managed services, technology, and data sciences to insurance organizations. The company helps insurers launch products, drive operations, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. www.xceedance.com Lifecycle Capabilities North America Data and Analytics Europe Digital Enablement Asia Intelligent Technology Australia Strategic Consulting © 2022 Xceedance CASE STUDY © 2022 Xceedance