Customer behavior in car insurance is changing significantly, and insurance companies are facing an increasing demand for digital services and personalized customer offerings. Simultaneously, increased competition from full-coverage insurance and product manufacturers, with a digital lead, enables improved business models that increase customer loyalty. But regardless of this, there are bonuses to be won and cloud services to use to get there. Learn how insurance services firms can increase speed and agility to deliver compelling products and services in addition to their existing offerings.
Putting the customer and insurer relationship first, we launched Enerfy Loyalty this spring. The product offering is entirely powered and based on our seven patented AI predictive risk analytics tools.
Artificial Intelligence has already boosted and developed the fintech sector at large. The turn has come to auto insurance, new mobility, and the growing number of car-sharing services. With our AI, we identify and forecast who will cause claims to what cost – which is the prerequisite for building the required transparent and dynamic pricing models that are needed. With the underlying AI real-time loss ratio prediction, Enerfy Loyalty deploys the possibility to utilize aggregate data per individual user in real-time without interfering with the existing technology or policy. An offering that empowers insurance carriers with entirely new ways to both create hyper-personalized rewards for the end-user and at the same time, gain unique predictive insights per every end-user.
The unique combination of the loyalty program and the in-depth AI predictions equips insurers with an invaluable advantage. In the short run, it will take underwriting and insurance pricing to a whole new level – which less progressive and lagging behind counterparts would miss out.
By only using the smooth and easy-to-apply solution Enerfy Loyalty, insurers get equipped to roll out useful end-user apps while seamlessly transforming into data-driven companies powered to release locked value. On the base of the loyalty program, Insurers can, step by step, build their business around data, drive trade across their motor books in a whole new way, and reach out with compelling offerings.
Want to learn more about Loyalty? Business Insider highlights the broader perspective of its usefulness and gains in this article.