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Sophisticated Monitoring and Analysis of Risk Tool - SMAART

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Overview

SMAART is a Claims Reserving, Portfolio Monitoring and Pricing System for the health insurance business. It provides you with a 360-degree view of your business performance, allowing you to monitor your portfolio profitability from a product and policy perspective, use past claims experience and factors like seasonality and medical trends to make projections for incurred claims, ultimate claims, and eventually price, and steer your portfolio towards desired targets. With a user-friendly experience, it provides you with the tools you need to:

  • Manage your health business reserves
  • Monitor policy performance and handle renewals
  • Monitor product performance and decide pricing

Conceived by Munich Re actuaries, SMAART is a robust yet simple-to-use system that you can count on.

Key Features

SMAART provides the tools you need to help you successfully manage your health insurance business:

  • Reserving Tool
  • Portfolio Tool
  • Group Tool
  • Individual Tool
  • Product Tool
  • General Features

SMAART's current roadmap includes the addition of a full-fledged Individual Tool and support for Solvency II and IFRS reporting.

Key Benefits

SMAART ensures that you have access to the data you need, when you need it, so you can make intelligent decisions about your entire health portfolio. Specifically, SMAART provides you with:

  • Single version of truth for your business
  • Increased risk management capabilities via sophisticated reserves handling
  • Improved operational efficiency for reserving, claims analysis and renewals
  • Advance pricing capabilities for policy renewals
  • Superior portfolio monitoring on a policy and product level
  • Enhanced compliance through automation and minimization of human errors

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