Milliman has announced new features for Pixel™, Milliman's web-based, interactive premium comparison and market analysis tool for personal residential and flood insurance.

With this most recent update, Pixel Homeowners now allows users to review premiums by peril. This more granular look at pricing helps insurers make more informed decisions around competitiveness and can help drive profitable market growth. Additionally, the Pixel product update includes the ability to incorporate loss and expense data such as expected losses from catastrophe models, enabling users to analyze competitive position and profitability at the same time. Businesses are able to view not only their own data in Pixel, but also to license Milliman's market baskets, which include competitor premiums for hundreds of thousands of policy profiles, all calibrated to represent various state markets for both flood and residential property insurance.

Pixel's updated features provide a granular market analysis that allows insurers to simultaneously compare competitiveness and profitability. As insurtech drives competition in the market, both new and established insurers are able to make more informed decisions around pricing strategy and market growth.

"We have found the Pixel tool extremely helpful in analyzing where and how to be more competitive," says Kevin Walton, Managing Director of Underwriting and Risk Control at People's Trust Insurance. "Now that Pixel splits the competitor premium by peril, we can focus on the area that will have the most impact on our competitiveness. Adding loss information to the analysis will also greatly enhance the usefulness of Pixel."

To learn more or see a video about Pixel, click here. To learn more about Milliman's insurtech products, click here.