Hyperexponential

Hyperexponential provides pricing decision intelligence (PDI) software for the property-casualty insurance industry through its platform, hx Renew. The platform enables insurers to leverage large and alternative datasets, develop rating tools, and employ machine learning approaches to make data-driven pricing decisions at both portfolio and individual levels. The software helps insurers cut treaty pricing model development time by up to 80% and allows them to build predictive models while accessing APIs to integrate data sources and workflows between systems. The platform processes over USD 45 billion in gross written premiums annually. Since its Series A funding in 2021, the company has grown its sales tenfold while maintaining profitability. In October 2023, the company launched a new reinsurance pricing model specifically designed for treaty reinsurance including excess of loss (XoL), which was developed with input from Deloitte and global reinsurers.

Key customers and partnerships

Hyperexponential serves several major insurers including Aviva, HDI, and Conduit Re. In 2023, Aviva's Global Commercial and Specialty team utilized hx Renew to build 20 models in nine months, improving the speed and accuracy of their pricing and underwriting decisions. The platform helped reduce policy creation time from over an hour to under 10 minutes. In November 2023, the company partnered with Akur8 to integrate their complementary PDI capabilities for commercial and specialty insurance products. In June 2024, Hyperexponential formed a partnership with Send to integrate their technologies, allowing users of hx Renew to connect with Send's underwriting workbench capabilities to streamline the underwriting and pricing processes.