Improving quality of insurance portfolio

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One of the largest companies in the automobile insurance market, providing services for private and legal entities in Moscow, St. Petersburg and throughout Russia.

Problem
Problem
  • Analysis of client's solvency
  • Estimating probability of insured event occurrence
  • Automation of decision-making
  • Automated creation of the best offer
Solution
Solution

One of the largest companies in the Russian auto insurance market used oneFactor technology in order to improve the quality of its insurance portfolio. As part of the project, it was required to enrich the company's scoring system with client’s behavioral profile analysis for improving the accuracy of risk assessment. oneFactor technology has high accuracy and speed of data analysis based on Artificial Intelligence systems and Machine Learning services. SmartMachine enriches decision-making systems with additional sources, which allow to significantly minimize the probability of error.

With the help of SmartMachine, the company, working with individuals and legal entities, significantly improved the quality of its insurance portfolio and also optimized its labor costs. The service was used to automate processes within the company, as well as to automatically generate more personalized offer and choose the optimal channel of communication with customers. SmartMachine allowed the company to receive the convenient tool for efficient interaction with its customers and the customers got more fair tariffs.

Effect
Effect

Implementation of the innovative methods for risk assessment based on behavioral characteristics makes it possible to increase the insurance portfolio profit by 5-10%.

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