Synthetic Data Generation and Its Key Benefits in Insurance

January 10, 2024

By Chen Ben Gal

We will focus on some of the technical aspects behind the generation of Synthetic Data, present some detailed information as to its effectiveness in mimicking original data statistical properties, and present some interesting applications which go beyond replication of the original data.

Paving the Way for Double-Digit GWP Growth in Aggregator Markets

December 18, 2023

By Earnix-Team

Aggregators, or price comparison platforms, offer consumers more choice, and a method of directly comparing options for a given type of insurance. The rankings that result from entering a few bits of personal or property information are most often presented in descending order by price.

Why Insurers Prioritize Profitability Over Growth

December 13, 2023

By Earnix-Team

As insurers continue to face lingering economic conditions and challenging markets, they are devising new strategies in response. One interesting shift is insurers’ increased focus on profitability instead of growth.

Target Encoding Applied to Insurance: Squeezing More Value from Your Data

December 11, 2023

By Luba Orlovsky

In the dynamic world of insurance, predicting risk and demand for policies accurately is paramount. By applying machine learning (ML), insurers are now better equipped than ever to make these predictions with confidence as they seek to increase revenue, improve profitability, and manage risk.
Personalization in Insurance: Insights from Industry Leaders on Driving Customer Engagement

November 22, 2023

By Earnix-Team

The insurance industry is undergoing a profound transformation, driven by global events and changing customer expectations. It is crucial for carriers to adopt new strategies, leverage data insights, understand customer behavior, and embrace technology to navigate these changes successfully.
The Impact of Climate Change on the Insurance Industry

November 15, 2023

By Earnix-Team

As global temperatures rise, the occurrence of extreme weather events such as hurricanes, wildfires, floods, and droughts becomes more frequent and intense. This increase in natural disasters leads to higher insurance claims and makes it more challenging for insurers to accurately assess and price risks.