Earnix Wins “InsurTech Innovation Award” in 8th Annual FinTech Breakthrough Awards Program
March 14, 2024
- Insurance
Earnix Recognized in Prestigious Financial Technology Awards Program for Third Consecutive Year
BOSTON - March 14, 2024 – Earnix, the global provider of AI-based SaaS solutions for financial services, today announced that its Model Accelerator tool has been selected as winner of the “InsurTech Innovation Award” in the 8th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today. This win marks the third consecutive year that Earnix has been honored in the Fintech Breakthrough Awards, winning Best Insurtech Solution in 2023 and Banking Innovation Award in 2022.
“While insurance industry leaders recognize the potential of advanced modeling, the reality has been that difficulty importing external models, the processes required to build them, as well as other software constraints have made them slow to adopt,” said Steve Johansson, Managing Director, FinTech Breakthrough. “With the breakthrough Model Accelerator tool, Earnix is addressing this issue head-on, and users can see the immediate impact of using new models more quickly. By reducing the complex manual processes required for creating models, Model Accelerator increases transparency and explainability, giving business, underwriting and pricing leaders and regulators a clear understanding of how models are used. Congratulations to the entire Earnix team on their well-deserved 2024 FinTech Breakthrough Award.”
“We’re incredibly proud to accept the 2024 ‘InsurTech Innovation Award‘ from FinTech Breakthrough,” said Robin Gilthorpe, CEO at Earnix. “By expanding open analytics capabilities, streamlining processes to use machine learning models in production, and providing new techniques to build models faster, we’re empowering Earnix customers to take sophisticated modeling to the next level.”
Model Accelerator is a web-based module offering a “bring your own model” approach for intelligent decisioning in aligning risk and price in presenting new offers to market. Earnix enables insurers to bring in any model they develop and use it in production across pricing, underwriting, and rating. Externally developed models can also be used, natively, within Earnix.
Model Accelerator allows pricing, underwriting and business professionals to understand the key variables driving predictions and effectively leverage these models for making informed business decisions. With direct incorporation into Earnix Price-It, models do not need to be rebuilt and can be used throughout the ratemaking process.
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more.
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About Earnix
Earnix is the premier provider of mission-critical, cloud-based intelligent solutions across pricing, underwriting, rating, and product personalization. These fully integrated solutions provide ultra-fast ROI and are designed to transform how global insurers and banks are run by unlocking value across all facets of the business. Earnix has been innovating for insurers and banks since 2001, with customers in over 35 countries across six continents and offices in the Americas, Europe, Asia Pacific, and Israel. For more information please visit: earnix.com.
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About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
CONTACT:
Krystina Puleo
Global Director of External Communications
press@earnix.com