Renewal Analytics for Risk Management Solutions

This document is a guide on renewal analytics within the context of risk management solutions. It outlines how renewal analytics transforms claims experience into a predictive view of risk, allowing teams to understand performance and price renewals effectively. The guide details a workflow that connects three steps: assessing performance across various segments, identifying cost-driving conditions, and projecting future risk for the next 12 months. Additionally, it explains the use of Gradient AI's Rate Calculator to convert projected risks into renewal prices. The guide emphasizes the importance of tracking metrics such as Medical Loss Ratio (MLR), claims, premiums, and risks across different segments. It also highlights the capability of Gradient AI's analytics to flag rising-risk groups early and differentiate between demographic and morbidity risks. By combining renewal analytics with Gradient AI’s SAIL™ platform, insurers can enhance their underwriting operations and make informed renewal decisions.