NMG’s Analytics practice provides market and custom analytics for financial institutions including insurers, reinsurers and fund managers:
- Market Analytics: NMG runs a number of ongoing market-level studies that aggregate, analyse and report business critical market data (on new business and inforce volume, provider and distributor share, lapse experience and cost and profitability metrics) on a quarterly or annual basis.
- Custom Analytics: we also create client-specific or multi-client analysis on market and portfolio performance and on opportunity and risk identification, leveraging the database analytics and actuarial capabilities in our Insights and Consulting practices. A critical element of our Custom proposition is the capacity to use our own datasets (including those from Market Analytics studies) to extend and enrich client or third-party data sources.
The current Market studies (open to all industry participants) include:
- Analysis of life insurance new business sales, inforce and lapse dynamics by channel/by distributor (Risk Distribution Monitor or RDM)
- Advised and direct channel activity, productivity and cross-sell benchmarks
- Analysis of reinsurance market volume, competitor share and mix
- Cost and profitability benchmarking for life insurers, platforms and asset managers
- Pension fund size, growth and competitor share
Examples of past Custom studies include:
- Industry-level profit pool modelling and forecasts by segment and competitor
- Value-based customer and intermediary segmentation models
- Portfolio baseline analysis including immunised lapse and claims experience assessments
- Legacy portfolio diagnostics and scenario modelling
- Channel productivity and mix optimisation analysis
- Retention analysis and campaign design
- Client portfolio propensity and economics analysis
We are uniquely positioned in our target industries, despite the proliferation of firms offering data analytics and related services. We differentiate ourselves from pure information services providers through our industry expertise and ability to interrogate and challenge data or assumptions that a non-specialist research firm might accept at face value.
We also differ from pure analytics firms in our ability to combine our own proprietary datasets (from Insights and Market Analytics) with client or third-party data. This allows us to expand the universe of potential analysis and enrich the results and value delivered to clients.
Finally our heritage shapes our approach. Many of our analytics studies are originated by our consulting practices, where we work together to develop and present findings. As a result we are constantly refining our data sets and analysis to drive our understanding, and look beyond the publication of data or reports to creating analysis and tools that help clients to make critical decisions and to manage and measure business performance.