Cloud-based solutions from Earnix enhance pricing sophistication and accelerate decisioning
BOSTON, November 14, 2023 – Earnix, the global provider of AI-based SaaS solutions for insurers and banks, today announced that NYCM Insurance, the award-winning New York State carrier, has selected Earnix to enhance its precision modeling capabilities and support dynamic pricing strategies.
Earnix powers insurers to compete, differentiate, and grow in highly competitive markets. NYCM aims to accelerate time-to-market and implement intelligent competitive pricing strategies. This will be achieved through robust data science, analytical modeling, and real-time AI capabilities of Earnix's pricing and product personalization. Insurers can then rapidly develop and deploy rates through a process that supports governance, monitoring and compliance reporting.
"In our constantly evolving markets, NYCM Insurance believes in partnerships that propel progress,” said Ashley Staring, Vice President of Product Management. “Using Price-It from Earnix, we can shape rates, mold strategies, and rapidly introduce new products for our valued customers. As a significant bonus, we will also free up skilled resources for other critical initiatives. We are excited about this partnership and look forward to a successful program with Earnix."
The Earnix platform seamlessly integrates existing systems and processes, to identify opportunities in real-time and act immediately, enabling insurers to improve customer retention, increase profitability and maintain healthy combined ratios.
“Innovative insurers like NYCM prioritize customer satisfaction, knowing it relates directly to their growth,” said Robin Gilthorpe, CEO at Earnix. “Partnering with NYCM is an excellent example of how Earnix advances carriers’ strategic pricing initiatives and develop new products.”
NYCM Insurance is a property and casualty insurance carrier that has been providing coverage to residents and businesses in New York since 1899. The company has grown tremendously over the last 120 years and is currently under the direction of founder VanNess Robinson's great-great-granddaughter, Cheryl Robinson. Aside from the Edmeston headquarters, NYCM Insurance has three additional offices in Sherburne, Canajoharie, and Orchard Park. With a team of over 850 employees, and a network of over 1,200 independent agents, NYCM Insurance is dedicated to providing superior service and a quality customer experience to over 575,000 customers. Insurance lines include Home, Auto, Umbrella, and Business. NYCM Insurance is a recipient of A.M. Best Company's Standing the Test of Time Award for maintaining an A rating for over 75-years. To learn more about NYCM's services, visit www.nycm.com.
Earnix is the premier provider of mission-critical, cloud-based intelligent solutions across pricing, rating, underwriting, and product personalization. These fully integrated solutions provide ultra-fast ROI and are designed to transform how global insurers and banks are run by unlocking value across all facets of the business. It has been innovating for insurers and banks since 2001 with customers in over 35 countries across six continents and offices in the Americas, Europe, Asia Pacific, and Israel.