SMAART

Boost your health portfolio's profitability

An all-in-one tool for advanced portfolio performance monitoring, optimal pricing and sophisticated claims reserving

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Health insurance executives need accurate data to make the right decisions for their business

To make the best decisions about existing and new health insurance products and policies, today’s executives need detailed and timely information about key performance indicators such as loss ratio, ultimate loss ratio, burning costs, incurred claims, ultimate claims, etc. For this, they need systems with advanced capabilities that will allow them to monitor their product and policy performance, manage multiple reserve levels, track portfolio profitability and manage risk.

The business challenges you face

More often than not, the data you need is unstructured and gathered from several sources, requiring weeks of analysis and adjustments each time you need new business insights. Or, you may rely on Excel spreadsheets that don’t incorporate historical evidence and audit logs. As a result, your path may be uncertain, forcing to make decisions, based on poor or inacurate data, leading to slow reactions to changing market needs, decreased competitiveness and ultimately higher risk for your health insurance business.

SMAART is the solution you need

With SMAART, you can make effective and timely decisions with accurate information, available at the beginning of each month, rather than the middle.

The actionable insights you seek are the glue between your company’s strategic goals and an effective decision-making process. This is the power of SMAART.

Claims Reserving & Portfolio Monitoring System

Get SMAART about the decisions you make

SMAART is a Claims Reserving, Portfolio Monitoring and Pricing System for the health insurance business. It provides you with a 360-degree view of your business performance, allowing you to monitor your portfolio profitability from a product and policy perspective, use past claims experience and factors like seasonality and medical trends to make projections for incurred claims, ultimate claims, and eventually price, and steer your portfolio towards desired targets. With a user-friendly experience, it provides you with the tools you need to:

Manage your health business reserves
Monitor policy performance and handle renewals
Monitor product performance and decide pricing

Conceived by Munich Re actuaries, SMAART is a robust yet simple-to-use system that you can count on.

Who would benefit from SMAART?

SMAART provides the insights insurers need to effectively monitor their health portfolio, ensure profitability and stay ahead of the competition.

SMAART can also be beneficial to other professionals in the health insurance business, such as actuarial firms, brokers and consultancy firms.

Company types

Insurance companies
Actuarial firms
Brokers
Consultancy firms

Roles

Health line manager
Product pricing
Claims handling
Risk management
Underwriting
Actuarial

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How you benefit from SMAART

SMAART ensures that you have access to the data you need, when you need it, so you can make intelligent decisions about your entire health portfolio. Specifically, SMAART provides you with:

Single version of truth for your business
Increased risk management capabilities via sophisticated reserves handling
Improved operational efficiency for reserving, claims analysis and renewals
Advanced pricing capabilities for policy renewals
Superior portfolio monitoring on a policy and product level
Enhanced compliance through automation and minimization of human errors

Key tools & capabilities to manage your business

SMAART provides the tools you need to help you successfully manage your health insurance business:

Reserving Tool

Portfolio Tool

Group Tool

Individual Tool

Product Tool

General Features

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Download FAQs list

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Your co-partner for informed decision-making

SMAART

SMAART Product Demo

Expertise and technology behind the solution

SMAART uses the actuarial algorithms developed by Munich Re, a comprehensive data model and an Oracle Apex UI to provide sophisticated analysis and a superior user experience.