Using machine learning in auto insurance to reduce loss ratio
Technology is transforming insurance – will you be at the forefront?
Discover how machine learning helps insurers take targeted action to reduce loss ratio, supporting the ultimate deliverable of a reduction in frequency and severity of claims.
The insurance industry is undergoing its biggest transformation in many years, with technology at the heart of this change. Insurers that were quick to adopt artificial intelligence (AI) into their businesses are already seeing benefits such as improved process automation, enhanced predictive analytics and a superior customer experience.
In this eGuide you’ll discover the benefits of machine learning in insurance and learn how pattern AI:
- Enables precision pricing
- Predicts the profitability of an entire portfolio
- Prices risk at an individual level
- Supports new mobility models
- Provides a digitized offering
By utilizing the latest in pattern AI machine learning technology, insurers benefit from accurate, individual driver risk levels, enabling personalized, fair pricing, and targeted action to reduce loss ratio.
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