Sigma Plus Consulting
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| Quantitative MarketingPrice Sensitivity Analysis
By comparing new business conversation rates and renewal retentions to market prices, one can come up with a mathematical model to predict customer behaviour using different pricing strategies. This sort of model can help a business to work out how quickly to allow higher costs flow through to higher prices, without losing business.
Automatic Market Price ResearchHave you ever wished that you could automate your market research of competitors’ prices? Inquisit is a new software package that automates the process of selecting which quotes to use, and even goes and obtains the premium quotes for you. Using Inquisit, we were able to obtain enough data to produce a map of a well known insurer's rating districts for motor, house and contents!
Sigma Plus Consulting are also able to supply quote databases on request, such as the one used to create the map shown above. We can also supply statistical support to reverse engineer the pricing structures implied by the quote databases.
For further information contact us at info@sigmaplus.com.au |
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