www.hyperexponential.com Open in urlscan Pro
76.76.21.241  Public Scan

Form analysis
0 forms found in the DOM

Text Content

About us
Explore Renew
Join the team
Request a demo


 * About us
 * Explore Renew
 * Join the team

 * Services
 * Pricing
 * SI Partners
 * Technology Partners
 * Resources
 * Blog
   Request a demo

Copyright © 2023 hyperexponential

Privacy Policy

Security Policy

Terms and Conditions
hello@hyperexponential.com
LinkedIn

Twitter

Instagram

We use cookies and analytics to ensure the best possible experience on our site.
By using this site you consent to our use of cookies in accordance with our
Privacy Policy. Should you wish to edit your data preferences, please follow the
instructions outlined in the Privacy Policy, or email us directly using
hello@hyperexponential.com

DeclineAccept
Spotlight on:


CONVEX

Enabling Convex to achieve the future of underwriting, today!

Key Benefits
Enabling a best-in-class underwriter workflow
Allowing underwriters to focus on underwriting through automation and
elimination of manual data entry
Empowering data-driven decision making with detailed management information
available anywhere and updated automatically


BACKGROUND 

Convex is an international specialty insurer and reinsurer, founded by Stephen
Catlin and Paul Brand in 2019 to underwrite complex specialty risks across a
diverse range of business lines, including Aviation, Marine, Property and
Liability. 

As a brand-new insurer, Convex’s ambition is to bring something unique to the
specialty insurance market. Free from legacy systems and with a clean balance
sheet, it had the opportunity to build a best practice business from scratch,
utilising new and innovative technologies to maximise efficiencies and reduce
costs.  

Convex selected hyperexponential’s next generation pricing software, Renew, to
develop their suite of pricing tools and while achieving speed to market and
optimising the underwriting workflow to ensure it was streamlined and
data-driven. 


CHALLENGE  

With Renew, Convex developed robust policy and model workflows, and enabled
their teams to make changes or create new models in just two hours. But they
didn’t stop there. In line with their vision to break new ground in insurance,
Sarah Brooks, Convex Portfolio Optimisation Manager and Mike Hansen, Convex Head
of Aerospace, knew that even with a great tech stack you still need to
streamline the underwriter workflow. Recognising the power of Renew, they set
out to explore the possibilities. 


SOLUTION  

The Convex Aviation and Portfolio Optimisation teams have leveraged the power
and flexibility of Renew to achieve their vision to streamline the underwriter
workflow, reducing the time from broker proposals to binding a policy from days
to hours, and eliminating rekeying through automation. They have developed
ground-breaking dashboards putting intelligence at the fingertips of their
underwriters, automatically delivering detailed portfolio management information
through the Renew platform, and empowering data-driven decision making like
never before. 


“hx has been supportive in working with Convex to evolve our data capabilities,
and the Renew platform has evolved alongside our business. Renew operates with
data reliability, enabling best-in-class service and advanced live insights to
the Convex portfolio.”

Mike Hansen, Convex Head of Aerospace




CONVEX AVIATION + HX RENEW: FLIGHT TO THE FUTURE 

Traditionally across the market, brokers typically send an extensive schedule of
information to the underwriters, who need to manually input all the data into a
pricing tool and other internal systems. When the data entry is complete, the
underwriter reviews the information, followed by lengthy peer reviews and
referral processes handled by email, before a quote is sent to the broker. 

With Renew, the aviation underwriters eliminated rekeying of data by working
with brokers to share data in an agreed template which is integrated
automatically into the platform. The underwriter is alerted to a new risk in the
system via Slack, with a link to dive into the policy directly and assess the
risk without the need for any further data entry. 

Email chains are eliminated, and the referral and peer review process is
automatically tracked and auditable within Renew, allowing for effortless
collaboration between underwriters. At the click of a button, a peer review or
referral can be triggered, sending an instant message to an underwriter or the
Chief Underwriting Officer. The reviewer can quickly access the policy through a
link and update the system, with a final message automatically sent back to the
underwriter showing the process is complete.   

Once the policy is finalised, it is added as part of the live portfolio data,
easily trackable and visible to anyone in the business on a dashboard,
accessible on a phone, tablet or laptop. The dashboard shows detailed reporting
on rate changes, limit profiles, and more, and is automatically updated hourly. 

Besides time savings through streamlining, this process has also improved the
collaboration between underwriters and actuaries on the aviation business line,
helping drive profitability through data-driven underwriting. Early results have
been impressive, resulting in other business lines at Convex implementing a
similar process at various stages. 



"We're super excited to see an organisation like Convex utilising the power of
Renew to take the underwriting experience to the next level. Seeing an example
of this streamlined workflow with Renew at its heart has been incredibly
impressive and a credit to Convex’s forward thinking in the industry."

Tom Chamberlain, hx VP of Customer


WHAT’S NEXT?  

Convex are already looking ahead for more ways to further enhance the
underwriting and pricing process. Integrations between internal systems will
deliver more benefits through automation, which Renew enables through its
flexible APIs. As more lines of business adopt this streamlined underwriting
approach, this will continue to drive Convex’s position as a market leader
across specialty insurance.  

Being our longest tenured customer, the Convex team is a highly valued partner
to hx. hx is by the market, for the market, and our customer's feedback helps to
shape the future of our product. 

We are inspired by their innovation and can’t wait to see what they achieve next
with the platform.  


TAKE CONTROL WITH NEXT GENERATION PRICING AT YOUR FINGERTIPS.

Request a demo today!
Share
EmailLinkedInTwitter


MORE CASE STUDIES:


ANTARES

Spotlight on:

How hx Renew is transforming pricing, risk, and underwriting for Antares
(formerly QIC Global)

Read more

Privacy Policy

Security Policy

Terms and Conditions

Copyright © 2023 hyperexponential

Certificate No:306072018

LinkedIn

Twitter

Instagram