The Earnix Blog: Resources for Insurance and Banking Leaders

Insurers are no strangers to discussions of the application of AI to their businesses. AI in its various forms has found its way into the mainstream of nearly every aspect of the insurance sector, including risk assessment, pricing, rating, and underwriting. While early adopters gravitated to AI due to the lure of new technology, the vast majority of carriers are in search of solid business reasons for its application. AI pricing models top that list.

Manual underwriting can be a complex and time-consuming process that inevitably increases operational costs. Without addressing these challenges and implementing new innovations, your underwriting processes can become a bottleneck, preventing you from making fast, informed decisions to stay current with changing market conditions and generate higher revenues and profits. 

As a lender, how do you cut through the noise to reach those buyers looking for the loan that's just right for them, and steal that business from the competition? The answer is loan personalisation.

As cyberattacks continue to rise, they affect virtually every industry, but in many ways, cyber threats are especially worrisome in insurance. The amount of confidential information that appears on an insurance application is extremely appealing to cybercriminals.