The Earnix Blog: Resources for Insurance and Banking Leaders

Insurers must consider economic factors, reinsurance arrangements, technological advancements, and customer preferences when setting premiums to accurately reflect risks while remaining competitive and compliant with regulations.

As insurers seek the enormous business benefits of dynamic pricing, personalization, and real-time risk assessment, they inevitably turn to artificial intelligence (AI) as their “go-to” technology.

During the recent Q4 2023 earnings season, major lenders faced questions and challenges related to reduced NII (Net Interest Income). Lenders are feeling the pressure of increased borrowing costs, leading to less-than-desired profits. To top it all off, many indications are predicting that interest rates are likely to continue to fluctuate in the new year. 

Aggregators, or price comparison platforms, offer consumers more choice, and a method of directly comparing options for a given type of insurance. The rankings that result from entering a few bits of personal or property information are most often presented in descending order by price.