Pricing Engine
Dynamic Pricing

Opportunity to create products formed by different tariffs with basic or complex mathematical calculations.

With easy API integration, the Pricing Engine retrieves quotation data from the core system and applies all mathematical formulations with the written rules in microseconds.

Every tariff has its own rule pool and can be managed hierarchically and sorted strategically to gain a competitive advantage with minimal errors.

How it works?
Integration Capability
The Pricing Engine offers seamless integration with legacy systems through robust APIs, enabling effortless connectivity and data exchange. This integration capability allows for smooth interoperability with existing systems, eliminating silos and facilitating the flow of information across your insurance ecosystem.
Rate Modeling
Leverage advanced algorithm outputs and customizable rating factors to create tailored rate structures that accurately reflect risk profiles, enabling you to set competitive premiums while maintaining profitability.
Tariff Management
With intuitive categorization and easy-to-use tools, effortlessly manage complex rating factors, manage all tariffs and perils together or separately, streamline pricing updates, and ensure consistency across your entire insurance portfolio.
Tariff Version Tracking
Take advantage of the tariff versioning feature in the Pricing Engine, which allows you to manage multiple versions of your tariff schedules. Easily create, update, and track different versions, ensuring compliance with regulatory changes and providing flexibility to adapt pricing strategies as market conditions evolve.
Integration and Automation
Seamlessly integrate the Pricing Engine with other modules within Lumnion, such as modeling and impact analysis, to automate data flow and enhance operational efficiency, saving time and reducing manual errors.
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