Data Solutions

Milliman Market Baskets

Get the data you need for accurate pricing and underwriting of homeowners and flood insurance products when entering new markets or evaluating current offerings.

Section 1

The Challenge

Without the right data, it’s hard to compete in property insurance markets

Whether you’re competing in challenging property or flood insurance markets or entering new ones, you need the right data to make the right decisions. Yet obtaining the detailed information you need to model catastrophes, calibrate premiums and understand the market can be hard to come by. Putting this data together in a format that is ready for pricing can require significant effort and cost that would be better spent on value-added activities.

Section 2

The Solution

Know your market with Milliman Market Baskets

Our actuarial and GIS experts have assembled rich data tailored to the needs of property insurers. Your team can use it immediately for underwriting, ratemaking, and market evaluation across the United States. Featuring robust and representative samples of actual properties, Milliman Market Baskets include high-fidelity property and coverage characteristics.

With proprietary geographical data and support from Milliman experts, you can maximize pricing accuracy, reduce adverse selection, and build a profitable, sustainable book of business.

Section 3

BENEFITS

Market Basket Benefits

Get rich data for accurate results

We deliver proprietary location-level detail including rich characteristics such as distance to coast, distance to river, elevation, and wind mitigation features.

Improve market visibility

Improve your competitive position by comparing risks, rates, and competitive outcomes in states or markets where your data is sparse.

Increase profitability

With full visibility to risk level profitability, target risks where you are most profitable and where you win.

Speed approvals

Data is designed to support fast regulatory approval with clearly documented processes, portfolios tailored to jurisdictions, and supporting information suitable for regulatory rate filings.

Reduce cost and effort

Competitively priced and ready to use, Milliman Market Baskets streamline the actuarial process, freeing your product development team to focus on analysis rather than gathering data.

Customized fit

Our solution is built, implemented, and supported by actuaries and GIS experts, who can work with you to customize and augment data to meet your specific needs such as appending competitor rates and performing catastrophe modeling.

Section 4

FEATURES

Market Basket Features

Cost effective

Get the data you need for a simple, one-time fee, no subscription required.

Representative

Use a notional portfolio representing 10% of actual properties so you get a balanced, accurate view of any market.

Timely

Get current data that reflects ground-level reality today.

Flexible

Use one rich data set for pricing, underwriting, and catastrophe and predictive modeling. Delivered in CSV format ready for any catastrophe model, or through Milliman Pixel for immediate visualization.

Section 5

PRODUCTS

Products related to Market Baskets

Premium comparison platform

Pixel

Identify new market sectors, pinpoint adverse selection, and make better pricing decisions with a web-based premium comparison tool.

Learn more

Modern flood insurance program

Bungalow

Milliman Bungalow is a private flood insurance plan that includes advisory loss costs, risk classification rating factors, and rating rules.

Learn more

Geographic rating insights

PinPoint

Milliman PinPoint delivers relevant geographic rating insights to your system at the point of decision through a simple API.

Learn more

Section 6

SERVICES

Pixel

Bungalow

PinPoint

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