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Displaying "Personalization" articles (35)

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Dynamic Product Actualization

The insurance industry was built on managing risk, but today’s increasing pace of change in the marketplace requires product and pricing agility. Flexibility will allow insurers to respond to increases in claims costs, prototype new usage-based products, and prepare for new products on the horizon. Achieving this in a way that meets regulatory requirements necessitates new capabilities.

Contextual Multi-Armed Bandits Meets Causal Inferencing

The Multi-Armed Bandits problem is a classic reinforcement learning problem that demonstrates the exploration–exploitation tradeoff dilemma. To correctly estimate the causal effect of price changes or different financial product bundle offers on consumers’ purchasing decisions, the standard methodology is to perform a randomized controlled trial (RCT). However, RCTs could be expensive, and financial institutions are often reluctant to conduct them for the required period of time.

Your Roadmap to Accelerating Digital Transformation

Traditional banking is well behind other consumer-facing sectors such as Retail, Healthcare Payers, and Telecom, and those sectors are setting consumer expectations that banks must meet to be successful. Driven by their experiences elsewhere, banking customers have come to expect offers crafted just for them, delivered whenever is convenient for them, and through the means and media they choose.

Dynamic Product Actualization for P&C

Dynamic Product Actualization for P&C

The insurance industry was built on managing risk, but today’s increasing pace of change in the marketplace requires product and pricing agility. Flexibility will allow insurers to respond to increases in claims costs, prototype new usage-based products, and prepare for new products on the horizon. Achieving this in a way that meets regulatory requirements necessitates new capabilities.
ITC 2021: On stage with Earnix CEO, Udi Ziv

ITC 2021: On stage with Earnix CEO, Udi Ziv

Today, carriers are under increasing pressure to fully personalize their products and dynamically deliver them to their customers. Fueled by consumer demand, Usage-Based Insurance is one of many trends in personalization poised to make the leap from niche to mainstream. But historically, insurers have struggled to find success creating bespoke offerings profitably and at scale.

How to Drive Business Growth with Usage-Based Insurance

As a “legacy” industry, insurance companies are not known for being early adopters of new technology. That being said, the speed at which consumers are adopting UBI makes it clear that this is where the insurance industry is headed. Luckily, adding UBI policies to your portfolio of products does not need to be a scary endeavor. In this eBook, we take a closer look at some of the real-world UBI challenges, but more importantly, best practices to help any insurer get started—and capitalize—on UBI today.

4 Steps to UBI Success

Adding UBI policies to your portfolio of products does not need to be a scary endeavor. By setting up the system in the right way from the start, the process will be smooth, and you will reap benefits quickly.

Earnix Video for Banks: Streamline Digital Transformation

Earnix Video for Banks: Streamline Digital Transformation

Earnix is the optimal solution for a new generation of risk-based pricing, through its single, comprehensive, enterprise-wide pricing platform.