The problem
Volume flatters. Claims tell the truth.
Gross written premium makes a channel look successful long before the claims arrive. By the time loss ratios catch up, you have grown the wrong book. Retention, fraud propensity and claims severity vary sharply between channels, partners and geographies, and headline reports hide all of it.
The distortion compounds quietly. Commission structures negotiated years ago outgrow the margin they were set against; a partner's mix drifts toward riskier destinations or older travellers without anyone repricing; and because every report blends the book into one average, no one is accountable for the channels dragging it down. The first step is simply seeing each route to market on its own claims-adjusted feet.
What we deliver
A ranked, honest view of every route to market.
How it works
From premium reports to margin truth.
Unify the sources
We join policy, premium, commission and claims data so every channel is measured on the same basis.
Adjust for claims
We load each channel with its true claims cost, including development and fraud propensity, not just paid to date.
Rank and compare
Channels are ranked on a single margin measure, with drill-downs to partner, product and region.
Decide and act
Each channel gets a clear recommendation, ready to take into a partner renegotiation or a growth plan.
Under the hood
The questions we put to your channel data.
Eight lines of enquiry recur in almost every distribution engagement. Each one is answered per channel, per partner and per geography, on the same comparable basis.
Claims-adjusted margin. Ultimate claims cost, commission and acquisition spend netted against premium, per channel.
Loss development by cohort. How each channel's claims mature, so fast-growing books are not flattered by unreported losses.
Retention and repeat behaviour. Which channels bring customers who renew, and which churn after a single term or claim.
Fraud propensity. Confirmed-fraud and anomaly rates by channel, partner and product, loaded into the margin they erode.
Severity and frequency mix. Whether a channel's losses come from many small claims or a few large ones, and what that means for rate.
Commission drag. Where structures negotiated years ago have quietly outgrown the margin they were set against.
Mix shift. Changes in destination, age and product mix inside a channel that move risk without moving rate.
Partner concentration. How much of the book depends on a handful of partners, and on what terms.
What changes
Growth aimed where it actually pays.
Instead of defending a channel on its premium, you walk into the conversation knowing its true margin. Growth budget moves to the routes that earn it, and loss-making partners are repriced or renegotiated on evidence.
Every book we have examined had at least one channel that looked like growth and behaved like leakage. The data always knew first.
THE TSP VIEWQuestions
What insurers ask us first.
Policy and premium records with a channel or partner identifier, commission data, and claims history. We map whatever you have and are explicit about any gaps before we begin.
Loss ratio looks backward at incurred claims. Claims-adjusted margin loads each channel with its expected ultimate claims cost, including development and fraud propensity, and nets off acquisition and commission, so channels are comparable on true profitability.
Yes. Every channel drills down to the partner, product and region driving its result, so you can act at the level where the decision actually sits.
That is one of the most common uses. You go into the conversation with a defensible, evidence-based view of the partner’s true contribution to the book.
It usually is. Mapping premium, commission and claims to a single channel view is part of the work, not a precondition for it. We are explicit about confidence levels and any gaps in the output, so you know exactly how much weight each number can bear.
Most clients settle on a quarterly refresh aligned to their partner-review calendar. A live feed matters less than a number the whole organisation trusts; we would rather you have a quarterly figure everyone acts on than a daily one nobody defends.