Have a go at pricing a risk.
Eight pricing screens. Turn covers on and off, change how much cover there is and how much the client pays towards a claim, and watch the premium build up line by line. Every figure is a fixed calculation you could run again tomorrow and get the same answer.
Try giving a bigger discount than the underwriter is allowed to give. The button stops offering to start cover and offers to send it to a manager instead. That one moment is what the authority limits are for.
The eight screens
Professional Indemnity
Cover for professional firms sued over their advice or their work. Usually the first thing an agency writes.
02 · RaterDirectors & Officers
Cover for company directors held personally responsible for decisions they made.
03 · RaterSide-A DIC
Extra cover for directors personally, for when the company cannot or will not protect them.
04 · RaterManagement Liability
Several different covers for a company’s managers on one policy — the most complicated one to price.
05 · RaterCyber
Cover for hacking, data breaches and the money stolen through them.
06 · RaterCrime
Cover for theft and fraud, including money tricked out of a business by a fake payment request.
07 · RaterIMI
A combined policy for investment managers, covering advice, directors and theft together.
08 · RaterTechnology Liability
Cover for software and technology firms when their product causes a customer a loss.
About these prices
The prices here are made up. They are there to show how the system works, not what we would actually charge or what we would agree to cover. Nothing here is a quote or an offer of insurance. Each screen also checks itself when it opens: it re-runs a set of worked examples and confirms it got every answer right to the cent. If it can’t, it doesn’t go live.