Hyperexponential (hx)

Cohort: Cohort 3, 2019 

Focus in insurance value chain/workflow: Point of Underwriting, Loss Modelling & Analytics, Compliance & Regulatory Support 

Specific lines of business supported: Specialty, Reinsurance  

Founded: 2017 

Status: Operating, still in insurance 

Company type: Software Provider 

Head office: United Kingdom 

Main global offices: United Kingdom 

Locations served: Global 

Employee count: 11-100 

Hyperexponential (hx) aims to help insurers and reinsurers simplify complex pricing decisions. Using hx’s customisable, scalable Renew software, (re)insurers can build, deploy and refine actuarial pricing models. The software allows actuaries and underwriters to monitor rate changes and review exposure rating, accumulation risk and projected loss ratios. hx’s ecosystem, Renew Connect, provides access to data and systems partners. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Improving UW tools and processes I New sources of risk insight - data or models  

The Lloyd’s Lab program enabled hx to prove that its actuarial pricing model was fit for purpose. It showed it could support organisations to move existing pricing models from legacy or alternative systems into the Hyperexponential software system.  

Hyperexponential was able to build an actuarial pricing model in 32 hours for one of its cohort mentors, 10 times faster than the industry average. For another client, hyperexponential built 20 models in 10 months. The Lab also enabled hx to find partners from within the cohort - such as Inari.