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 this eBook 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 optimisation.
• Automated underwriting and marketing triage.
• Underwriting risk portfolio optimisation.