Overview
The Problem Statement
The eternal dilemma for pricing teams is what price to quote. Price too low and leave money on the table or price too high and risk losing the business. Organisations need to understand not only a realistic price to quote, but also the potential opportunity.
The Solution
Optimal Pricing from MLP has been developed in consultation with industry experts and PhD data scientists to provide market intelligence and pricing insights in real time.
How It Works
You define the risk parameters and what percentage of the market to target, and Optimal Pricing will respond with a recommended high and low price as well as a confidence score.
Optimal Pricing can deliver this through our simple to use website or can be consumed as a point-of-quote API to compliment your existing enrichment services.
Web Interface
By allowing you to pre-define the parameters that you want to see price bands for, our intuitive web interface can show you what the demand is for your chosen profile, what the optimal price range is for your chosen market penetration as well as how the demographic breakdown looks:
RESTful API
Either via a direct integration with our API or utilising one of our delivery partners, the Optimal Pricing low latency API delivers sub-second responses for our point-of-quote service.
You define the service: Tell us the risk profile that you want to price and our service will do the rest, providing you with immediate insights into the optimal price ranges.
How can this help me?
Overview
An easy-to-use service that provides market pricing data direct to your desktop. Intelligent Pricing is the perfect solution if you want to enter new markets, compare data points against anonymised market data or engage in continual benchmarking to ensure relevance and competitiveness.
It has been designed to enable insurers, MGAs and brokers with delegated authority to query market pricing, broken down by a range of factors.
The service is simple:
- You specify the pricing parameters.
- We aggregate the market and provide results direct to your desktop.
- You make educated and informed decisions.
Intelligent Pricing key benefits
Data is readily available daily, meaning that any query is made up of the latest data we can supply. That’s somewhere between 3-5 million records a day.
Data is displayed showing average, median and quartile prices for each data point allowing for in-depth market surfacing.
Reports are delivered in seconds, directly into MS Excel, allowing further manipulation as you see fit.
Full control – already have an existing BI platform? Data can be directly read from our Intelligent Pricing API – giving the power to augment it with existing data sources.
Easy to install with no additional infrastructure needed, simply run query after query without resorting to third parties or in-house IT.
By using historical data Intelligent Pricing replaces the need for costly one-off reports, previously only available from aggregators within the GI industry, that can be limited in time and scope.