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Renewal Terms & Price Repositioning · BloomSpec

Where this sits

Underwriting & Risk Selection
Commercial & Specialty P&C Underwriting
Renewal & Account Re-underwriting
Renewal Terms & Price Repositioning

Alongside it

Expiring Account Reconstruction
Material Change Detection
Renewal Case Planning
Renewal Continuation & Non-Renewal Decisioning
Renewal Risk Reassessment

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Which products support operations within this?
How is this connected to {product}?
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Which operations in this are supported by more than one product?

Capability

Renewal Terms & Price Repositioning

The ability to determine renewal changes to price, limits, deductibles, coverage breadth, conditions, and other underwriting terms based on current risk, performance, exposure, and market evidence.

Also called Renewal Deal Repositioning.

Operations in this capability3

Determine Renewal Repositioning
Evaluate Renewal Price & Term Changes
Prepare Revised Renewal Proposition

Problems this addresses1

Renewal Inertia

How this is measured1

Renewal Rate Change

Products mapped to this capability1

hx Platformsubstantial · available