Measuring competitiveness simply

Document description

The paper considers the items that have to be analysed in order to assess the competitive position of a company and looks at current methods used. An alternative method is proposed. Advantages and disadvantages of this method are discussed. The paper also shows the results of a comparison of declared and actual rate increases together with the results of a mystery shopping exercise. These analyses are commented on and the implications that these have on assessing competitive position considered. The paper is an initial report on monitoring competitiveness and the Working Party will be continuing their researches over the Summer months in order to report in more detail at the conference. All data used by the Working Party was generated using the Praemium system from EL Systems which uses the Cheshire Data systems rating engine, a database of motor premium rates contributed by broker companies. The working party would like to thank EL Systems for all their help.