INSURANCE

Drive Innovation in Insurance with Personalised Decision Making

Build highly accurate models to leverage new data sources. Use dynamic adaptation to better predict each individual customer’s insurance needs, and provide personalised products and experiences. AI is empowering insurers all along the insurance value chain to cut costs, boost sales and improve efficiency.

How evoML Benefits Insurance Industry
Make Rigorous Decisions with More Accurate Models

evoML enables insurers to build more accurate ML models, ultimately leading to higher profits. evoML has been used to improve underwriting, pricing, and claim management. Better prediction accuracy can increase net new business by 20% to 25%.

Boost Profit with Faster Models

Our code optimisation reduces latency, improves throughput and minimises computational demands. evoML accelerates the prediction timeline of ML-based models, allowing insurers to draw insights from a larger amount of data and new data types at a faster pace, to gain a competitive advantage.

Reduce Costs with Quicker Model Generation

Accelerate the model-building process from months to weeks with just your current team, saving cost on extra hires. evoML has been used to speed up the ML development to production timeline from 6 months to 2 weeks, allowing teams to adopt technological innovation faster to maximise ROI.

Mitigate Risk with Higher Explainability

Due to higher explainability, evoML offers improved and timely insights on risk and compliance. evoML has been used to build underwriting models with full transparency and minimum bias. Insurers can easily access model code and reports, make AI-based decisions with trust, and explain model decisions to satisfy customers and regulators.

High-Value Use Cases
Dynamic pricing with tailored premiums

Instead of using blanket pricing, insurers can use evoML to build AI-based models to provide tailored insurance pricing to customers. Due to performance power and predictive capacity, AI is able to generate more specific premium prices based on the consumer. This will lead to better value for the customer and increased revenue for companies.

Detect and prevent fraudulent claims

Fraud is harmful for insurance companies as well as genuine policyholders. Insurance professionals can use evoML to build accurate models to better assess the legitimacy of insurance claims. With evoML, Insurers are able to process a larger amount of customer and claim information, and detect fraud in real-time to avoid loss.

Recommend personalised product bundles

When recommending insurance policies, providing personalised product bundles can lead to increased clientele and lower churn rates. Insurers can use evoML to build models that analyse consumer behaviour in greater depth, and suggest more relevant insurance products and policies to consumers.

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Why TurinTech?

Cutting-edge Research Built into Product

TurinTech is a research-driven company, with over 10 years of experience in the code optimisation area, and backed by leading investors.

Trusted Partners from Day One

Our expert researchers, data scientists, and software engineers will work closely with your team, building the roadmap to AI success for your business.

Future-proof your Business

We are future-oriented, constantly developing technology for today and tomorrow. Working with us helps you future-proof your business.

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