Claims costs per policy (i.e. paying out insurance claims) are on the rise across the insurance industry. As the cost of doing business increases, insurance companies need to figure out what is making claims costs go up, who these changes affect, and what corresponding actions to take. Furthermore, insurance is increasingly becoming a commodity, with customers likely to choose their insurer purely on price. This makes accurate price- setting more important than ever before and, in order to set accurate technical and commercial prices, considerable pricing analysis must take place. Pricing analysis in insurance can be incredibly com- plex, repetitive, and time-consuming. For a company like NTUC Income (Income) in Singapore, the notion of undertaking a massive pricing analysis p

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