Earnix (Ramat Gan, Israel) has introduced the Earnix Risk Premium Module, which helps insurance companies achieve greater optimization of pricing by integrating risk and behavior modeling, according to a vendor source.
Earnix Risk Premium Module helps actuaries and insurance pricing analysts to get more accurate results faster and easier through advanced modeling techniques such generalized additive models (GAM) based on smoothing splines, regression trees and multinomial logistic regression, according to the vendor.
The solution includes a wide range of charts with drill-down capabilities to evaluate and compare models and quickly zero-in on the best options. They can also use their standard corporate business intelligence tools to create additional customized graphs and reports based on data from the solution, according to Earnix.
"True optimization of prices requires the ability to combine the modeling of risk with the understanding preferences for each customer," said David Schapiro, Earnix's chief executive officer. "By offering an integrated platform that combines risk and behavioral modeling, we are enabling insurance companies to take pricing optimization to the next level."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio