Total Systems announce strategic relationship with Contemi for price optimisation software

Total Systems announce strategic relationship with Contemi for price optimisation software

Total Systems Plc is delighted to announce that they have signed an agreement with Contemi to market their PriceBuilder.Net product into the UK market. PriceBuilder is a highly innovative product which enables insurers to dynamically adjust pricing to meet market competition, initially on higher volume products such as motor and household policies. Contemi’s founders have an enviable track record and reputation in Scandinavia for implementing the PriceBuilder methodology. In addition a major UK customer is already reaping the benefits of the product, achieving top line GWP growth of between 2 and 4 per cent, the majority of which has an immediate impact on bottom line profit.

Maximising profits in the current soft market is a persistent challenge. The ability of PriceBuilder to constantly recalibrate and take account of competitor price alterations and marketing campaigns allows insurers to react quickly to the changing dynamics, resulting in increased sales volumes and an upturn in profits.

Colin Fox, Sales Director at Total comments “It is rare for a product like PriceBuilder, which can demonstrate such tangible benefits, to present itself to the market and we are delighted to be exclusively marketing it to the UK insurance industry. With a 100% success rate in delivering increased profitability for its customers, PriceBuilder offers a real opportunity for companies to steal a march on their competitors. The market can only gain from exploiting price optimisation and our research suggests that PriceBuilder is the most advanced product on the market in this respect”.

Says Gaute Herdlevaer, Managing Director at Contemi “We are delighted to be working with Total, who have such a strong relationship with the UK insurance market. This agreement enables Total to concentrate on the marketing of PriceBuilder.Net, while allowing Contemi to focus more on R&D development and customer delivery – ensuring that PriceBuilder and the rest of the Contemi product range continue to be the most innovative in the business.

ENDS

For further information, please contact:

Emma Howell
Marketing Manager 020 7294 4991
emma.howell {at} totalsystems.co(.)uk

Note for editors:

About Total Systems

Total Systems [LSE Symbol; TTS] offers a comprehensive range of software, support and expertise to the insurance sector. Total Systems’ Ultima product is a client-driven, SOA compliant insurance and warranty system used to manage personal and commercial insurance and warranty products, from quotation through to claims and accounting.

In addition to delivering cost-effective, robust, solutions, Total Systems’ provides the necessary consultancy, training and support to ensure that its clients get the maximum return on their investment.

About Contemi

Contemi’s depth of expertise and experience in optimised and dynamic pricing is almost unparalleled in the industry. Its founders include insurance and banking executives and actuaries that have worked as a team since the late 1990’s. Contemi has a proven and enviable track record in delivery. Their price optimisation method has enabled eight European general insurers to add from 5 up to 12 points to their annual return on capital.

Contemi’s flag ship product, PriceBuilder.NET is a dynamic and real-time price optimisation solution that adjusts to reflect customer price sensitivity. It has several unique features including a recalibration function that takes the latest conversion rate data and updates the price models either automatically or on request.