Easy to understand. Pretium is operated through a series of user-friendly screens that guide you through the analysis process. Pretium utilizes the powerful and flexible data handling capabilities of SAS®. For each analysis, Pretium generates explicit and documented SAS code. Those unfamiliar with SAS code can easily use Pretium, while those familiar with it may edit the generated code for even greater analysis flexibility.
Fast Generalized Linear Modeling. Pretium includes a custom-built and fast generalized linear modeling routine that supports and makes efficient use of multiple processors. The software supports all common forms of GLM, including regression splines and Tweedie GLMs. Furthermore, being specifically designed for insurance modeling, users can specify extensive analyses quickly and with minimum effort.
Price optimization. Pretium provides a clear, step-by-step approach to developing optimization models. Users can combine any number of claims, retention and new business models with other multivariate structures to estimate the possible consequences of charging particular premiums. Pretium can output expected premiums, profit and business volume as well as other measures.
Geographical spatial analysis. Using a flexible custom-built algorithm that combines spatial smoothing and credibility techniques, Pretium enables accurate and powerful analyses and understanding of how risks vary by geographic area. Pretium produces maps showing differences by geographical area, and illustrates the effects of applying various smoothing techniques to your data.
Unsmoothed residual risk
Smoothed residual risk
User-friendly interface. The modern look and feel of the interface make it easy for new users to start working with Pretium. The user interface allows users to see, at a single glance, how an analysis is progressing.
Extensive data handling. Pretium provides a range of data importing, manipulation and cleaning utilities to enable key pricing analyses to be started quickly and on a sound foundation.
Clear Output. Key results can be automatically exported to Microsoft Excel®, providing high quality graphical output that allows results to be understood at a glance. A quick graphing tool is also available in the system allowing the user to view the results without producing Excel files. The exported results can be customized and copied into presentations and reports with ease.
Pretium's clear graphical output helps analysts interpret statistical results with ease.
Marketing experts, underwriters and finance directors can also benefit from the clarity of Pretium's output.
Although the system can produce graphical results within SAS, Pretium allows key results to be automatically exported to Excel. This provides high quality and flexible graphical output and also allows easy manipulation and "off the cuff" manipulation of results.
To learn more about Towers Watson and Pretium features, please visit the Pretium section of Towers Waston's website at www.pretium.com.