aviation rating application - willisre.com · this tool supports your aviation insurance...

© Copyright 2013 Willis Re Inc. All rights reserved.

Want to know more…? Contact the Willis Re Aerospace team: Mark Hudson +44 (20) 3124 8031 [email protected]

Justin Stoggell +44 (20) 3124 7376 [email protected]

Claire Thomson +44 (20) 3124 8090 [email protected]

Russell Nevard +44 (20) 3124 6284 [email protected]

Willis Re eXPRESS Online eXTREME™ TOOLKIT

A new platform to meet your underwriting needs Aviation Rating Application

This tool supports your aviation insurance underwriting, assessing exposure and pricing risk

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A new platform to meet your underwriting needs

The Aviation Rating Application models exposure in a number of ways, providing a bespoke view of risk depending on your requirements. Each model is set up as a tailored programming script for you, allowing each to be as flexible and intricate as your underwriting decisions may be. The script can allow for user adjustment giving even more flexibility and scope. The underlying complexity is encased in an intuitive user interface that steps you through the process with ease. The fast and efficient calculation engine will not interrupt your workflow, except to let you know when it’s finished, by e-mail.

Overview

Aviation Rating Application

eXPRESS Online is a growing platform, continuously fed with more tools and functionality.

Ask your account executive for further details.

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Multi results options

Multi modelling options

Bottom up exposure rating Premium / Loss pot distribution

Actuarial / Stochastic

Bespoke

Easy to use

Fast

Flexible

Accessible

– Individual model results &/or blended model results

– Models tailored to your specifications

– Intuitive user interface

– Efficient calculation engine

– Simple or complex

– Secure web-based access available 24/7 worldwide

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A new platform to meet your underwriting needs How it works…

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A bespoke solution is of more value as it becomes a more relevant element in the decision making process.


• A fully flexible framework that provides an environment to: – Design – Run – Adjust – Save and store your own

models • The models can be

based on: – the realistic templates

supplied and/or – custom built from scratch

• Adaptable underlying datasets allowing you to: – manage the data quality – vary the data sourcing

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• Different models can approach the same question in different ways. With multi modelling options you can see the results of different modelling choices

• Using more than one model allows multi results options. Weight and blend the model results to give a result that is more relevant than the individual parts

The complex task is made easy to use with the intuitive user interface that guides you through the process

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• Models and data are easy to store and retrieve

• Willis supply realistic template models

• We can build models to your specifications

• Your models are kept in the Warehouse facility in an area secure to you

• Optional role-based access is available to distinguish between actuary, model builders, model users etc.

A secure, web-based environment accessible world-wide 24/7

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• The application uses third party data feeds. You can take a snapshot of the world fleet on any day to use in your model

• This data can be adjusted by you if you choose

• Add your own user-defined data to further enhance the value of your results

• Any user defined datasets are kept in the Warehouse facility in an area secure to you

With a constantly changing Airline industry our exposure data feeds are updated daily

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• The application has a fast and efficient calculation engine

• Your workflow is not interrupted during the model calculation process

• Use the notification option to e-mail you when the calculations are complete

• View the results onscreen

• Export the results to MSExcel

• Your previous results are always available

Bulk computations and complex logic are handled quickly with the fast and efficient calculation engine

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• Bring your model results together (currently up to 5)

• Weight or average them • Bring in loss history

from the eXPRESS Major Loss Database

• Add soft factors • View calculated

premium for the selected insured

Example of application results – Insured Analysis

Use the same model with updated data to give consistent and comparable rating year on year

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aviation rating application - willisre.com · this tool supports your aviation insurance...

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