Milliman unveils enhanced premium comparison tool for flood insurance

mii industry-news-8 Global consulting and actuarial firm Milliman has launched an enhanced version of its premium comparison tool Pixel that can now compare flood insurance premiums.

With the new update, the Pixel market analysis platform can now compare personal residential and flood insurance across various state markets.

Pixel incorporates Milliman’s market baskets, geospatial information, subject matter expertise, and advanced analytics to provide insurers with the information they need to make better informed decisions.

Insurers using Pixel are not just able to view their own data, but also to view competitor premiums for hundreds of thousands of policy profiles (by licensing Milliman’s market baskets).

“Startups and smaller companies are interested in entering the growing flood insurance market, but lack the volume of data to price competitively,” said Milliman principal and consulting actuary Nancy Watkins. “Pixel for flood provides the data, advanced analytics, and visualization tools needed for sophisticated feasibility, pricing, underwriting, and profitability analyses no matter the size of your business.”

Take a deeper dive into the flood issue at the Flood Risk Summit.