SMAART (Sophisticated Monitoring and Analysis of Risk Tool)

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Overview

SMAART (Sophisticated Monitoring And Analysis of Risk Tool) is a comprehensive toolset for success in health insurance that serves your need to monitor, steer and grow your health portfolio.

Activities such as profitability monitoring, reserving and underwriting decisions based on historical claims data can be complex, and most importantly, time-consuming. Managing risk and ensuring profitability for group or individual health insurance is an ongoing, dynamic process, and SMAART can play a pivotal role in supporting your work as actuaries and underwriters.

It can be deployed on-premise or in the cloud (public or private) depending on your business needs, budget and the regulatory environment in which you operate.

Key Features

SMAART's dynamic visualization of key actuarial factors enables insurers to set reserves and anticipate trends and patterns. Underwriters can track business renewal processes, set renewal strategies for group business and monitor deviation from targets. Simulations performed at the group policy level, help you assess the impact of large claims, policy loadings and benefit adjustments on your health portfolio.

SMAART is:

  • Cloud-ready
  • Role-based
  • Secure and compliant
  • Fast to deploy and easy to use
  • Equipped with data import mechanism
  • Armed with dynamic KPI visualization

Key Benefits

  • Advanced monitoring across the entire health insurance portfolio
  • Flexible and dynamic reserving
  • Superior pricing of group renewals
  • Performance comparison of various products lines

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