Displaying "Pricing" articles (113)
Pricing Automation Helps LINK4 Boost Speed and Business Success
“We were looking for a much more modern pricing and rating platform. Our past approach used an on-premise mainframe-based system that simply wasn’t as reactive as we needed. It took too long to create new pricing models, make changes, and respond to real-time opportunities in the market.”
Empowering Relationship Managers in their Digital Journeys
Throughout its history, banking has relied heavily on personal relationships to achieve many of its business goals. Relationship managers (RMs) have served as the “face” of the bank in providing sound business advice, acquiring new customers, and uncovering new sources of revenue within existing accounts. The most powerful combination for banks’ success is to equip Relationship Managers (RMs) with technology that allows them to extend the personal touch customers crave, the power of satisfying customer experiences (CX).
The Need for Speed
For insurers who can overcome challenges caused by legacy pricing processes, speed to market is a very real opportunity to differentiate, win more business, strengthen the bottom line and gain a sustainable advantage over the competition. This eBook will show you how all of this is more than just possible—it’s achievable with the right technology solution.
Why Speed to Market is Changing the Insurance Landscape
Dynamic Product Actualization
The insurance industry was built on managing risk, but today’s increasing pace of change in the marketplace requires product and pricing agility. Flexibility will allow insurers to respond to increases in claims costs, prototype new usage-based products, and prepare for new products on the horizon. Achieving this in a way that meets regulatory requirements necessitates new capabilities.
BavariaDirekt Achieves Faster, Smarter, More Personalized Insurance with Earnix
BavariaDirekt were spending too much time and effort managing the many steps required to update pricing models and deploy them in online channels. That’s why they opted for Earnix’s modern, end-to-end pricing platform to help them overcome such challenges.
Contextual Multi-Armed Bandits Meets Causal Inferencing
The Multi-Armed Bandits problem is a classic reinforcement learning problem that demonstrates the exploration–exploitation tradeoff dilemma. To correctly estimate the causal effect of price changes or different financial product bundle offers on consumers’ purchasing decisions, the standard methodology is to perform a randomized controlled trial (RCT). However, RCTs could be expensive, and financial institutions are often reluctant to conduct them for the required period of time.
Complete Automation Leads to Price Modelling Success for BGL Group
BGL Group is always looking for innovative, advanced solutions to deliver the best product offerings, service and value to its customers. To this end, BGL employed Earnix’s advanced pricing solution for meeting the needs of internal users and making the company more competitive.