TFP Schemes announces introduction of it's Dynamic Pricing Structure (DPS)
For some time we have been assessing our pricing strategy and over the last 18 months invested heavily in developing a more scientific way to drive our pricing model, this will help us to continue to build on our growth aspirations and help keep TFP Schemes at the forefront of the niche motor market.
We are pleased to announce that we have developed a Dynamic Pricing Structure (DPS) which will more accurately price our business. This multiplicative application uses both public data and rating features to profile our customers and better understand the risks we are underwriting and price each individual risk more accurately.
What does this mean to you?
Hopefully it will ensure that we are even more competitive on the business that we want to secure and help better price risks we would previously have avoided possibly due to area, for example. In all, we fully expect to make TFP Schemes more competitive for more of your clients.
Do you need to do anything?
In respect of your client.... NO. All the information we use is in the public domain so you do not need to obtain permission from your client regarding a quotation, any searches we carry out will be the standard insurance searches and will not affect your client's credit history or credit rating.
With respect to your business, you need to ensure that all your staff are aware that we may now be competitive for risks we previously have not been, so they will need to run every quote through the TFP Solo system to make sure that they get the very best rate on every risk.
We are confident that this investment will develop our relationship further and we look forward to growing our account with you in the future.