The Tyche Pricing System (TPS) is an enterprise solution for pricing all classes of SME, Commercial and Treaty Reinsurance (Cat and non-Cat) business.
Since its official launch in September 2019, it has, on average, been selected by a new client every two months. Built on the latest technology stack, this web application enables best-in-class pricing.
Pricing teams have access to Tyche Pricing System’s pre-build experience and exposure pricing functionality, and additionally they can develop custom pricing models within a secure, well-governed development framework process, independently of their IT team.
TPS integrates easily with third-party systems including policy admin, exposure, claims and reporting data lakes. The rich, open APIs facilitate easy-to-configure data transfer. Additionally, TPS integrates with the Tyche Exposure and Accumulation Management facilitating efficient and consistent portfolio risk management.
Key benefits of the Tyche Pricing System are:
- Simplifying the potentially complex reinsurance pricing process by combining advanced technology and expertise with the feedback from the detailed pricing experience of our significant client base
- Faster quote turn-around, leading to increased premium volumes
- Efficiency in the renewal process with analyses and clear views of exposure
- Reduction in pricing and governance simplified by using a centralized platform and data storage