Struggling with inaccurately assessed risks and delayed underwriting, the client implemented an AI-powered risk assessment engine using real-time vehicle and driving data. This enabled more accurate pricing, faster policy approval, and improved customer retention.
5%
reduction in claims losses through proactive risk model adjustments
10%
increase in customer retention via personalized pricing and engagement
25%
faster underwriting process with reduced manual intervention
The client is a leading provider in the auto insurance space and one of the largest insurers globally. The client achieved 4% revenue growth through new market expansion enabled by AI-driven solutions.
Inaccurate risk assessments lead to suboptimal premium pricing, while manual policy approvals cause delays that frustrate customers. Additionally, a lack of personalization drives high customer churn, highlighting the need for more efficient and customer-centric processes.
The AI platform delivered a more efficient and customer-centric underwriting experience. It enabled dynamic risk scoring and automated outreach, contributing to reduced losses, quicker approvals, and improved client satisfaction.