In an insurance marketplace where the average P&C combined ratio is hovering close to 99 points, a single point improvement can yield a dramatic increase in profitability. AI and automated machine learning bring five new dynamics to P&C insurance operations that empower companies to shed previous constraints and break out of the pack to pursue substantial improvements in loss and combined ratios.
Read our eBook, Five Automated Machine Learning Solutions for P&C Insurance, to learn about the five ways that P&C insurance companies are taking advantage of AI and automated machine learning, including:
- Rapid product development with dynamic pricing
- Individually developed loss predictions for claims, pricing, and reserving
- Distribution optimization
- Automated underwriting and marketing triage
- Underwriting risk portfolio optimization
Learn about the extraordinary returns that enterprises are seeing from their AI projects.
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I think we need to take it upon ourselves in the industry to build the predictive models that understand what the needs and wants of our customers are, and go through the whole curation process, become their concierge.
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