The Earnix Blog: Resources for Insurance and Banking Leaders

If you are facing with a choice of building vs purchasing an off-the-shelf pricing analytics software, this blog post will help you understand the pros and cons of both and present them to your management and IT teams.

AI is revolutionizing the insurance industry today by enhancing underwriting, claims processing, customer service, and product development. Yet the rapid advancement and widespread of adoption of AI in the insurance industry leads to new questions about the potential for biases and discrimination – as well as AI’s overall implications for insurers.  

The use of synthetic data has expanded greatly the options in the world of analytics and data science, and has found traction in many corners of the insurance industry. It has yet to find wide usage in specialty markets. In these markets, failure to take full advantage of synthetic data runs the risk of suboptimal decisions and the resulting negative impacts to profitability.

A closer look at loan pricing transparency in the consumer-first era and what the AI revolution means for banks.