Workday Adaptive Planning
Insurance
Calculate reinsurance rates and product profitability by product line and model customer demand.
Insurance companies use planning to navigate change
Workday Adaptive Planning enables insurance companies to plan, budget, and forecast the future so they can pivot and flex as circumstances change.
Claims modeling—Forecast cost per claim, time to settlement, and frequency across categories (e.g., auto, health, home, and life).
Premiums forecasting—Model gross and net written premiums, revenue per policyholder across plans and categories, and across insurance type.
Product and branch profitability—Plan revenues and direct costs by product and branch. Allocate personnel and overhead to analyze expense and loss ratios by segment or location.
Reinsurance rates—Plan reinsurance rates across the portfolio to manage risk.