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Axco launches new data service

03 April 2017

DataPoint - Differentiated Insight for the Non-Life Market

To adapt to changing market conditions and take advantage of opportunities, organisations need to be responsive in their decision making - often having limited time to make key strategic decisions. For an industry built on calculations, sourcing vital market and company data to support these decisions can be surprisingly difficult and time-consuming.

DataPoint, Axco's newest analytical tool, responds to this challenge by providing easy access to highly granular market and company data via an intuitive online platform. Whether expanding into new territories, launching new product lines or conducting peer group analysis, Axco DataPoint facilitates the critical decision making process with the provision of highly focused underwriting and profitability information.

With all data broken down by local class of business, DataPoint allows you to gain in-depth insight into markets or companies of interest. Use DataPoint to:

  • Obtain an analytical understanding of global markets with regards to opportunity development and strategic planning
  • Understand how your competitors are performing by market and class of business
  • Pinpoint opportunities and risks across markets
  • Identify partners and targets for acquisition

The database is relevant to anyone with the need for detailed levels of insurance market data to support strategic initiatives and drive business growth, delivering valuable insight across multiple lines of business and market segment trends.  DataPoint can also be used as a benchmarking tool to conduct peer group analysis and monitor key competitors as well as to assist with internal reviews of company performance across territories.

In addition to providing deep-dive company data, DataPoint also expands Axco's statistical offering to include extended data sets covering underwriting statistics and expenses, reinsurance statistics, underwriting ratios, profitability and investments. Information can be viewed in grid format or as a bar or pie chart.

Key to the value of the tool is the consistent reporting of data across territories. DataPoint eliminates the need for companies to spend time sourcing and translating data sets and crucially applies an Axco standard to disparate reporting models, allowing users to compare data across markets and regions. As well as rendering the data consistent across markets, Axco's statistical team also follows a rigorous validation process, clarifying points of contention with the local regulator and verifying data sets with Axco country experts following their visit to a market. Solely focused on providing insurance information and data to the international insurance industry, Axco adds a level of analytical understanding to the structuring and validation of data sets unobtainable elsewhere.

Datapoint covers an initial 50 territories and will be continuously built out to cover additional countries and data sets.  Visit the Axco DataPoint page to learn more and to contact your Axco representative 

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