Webinars

End spreadsheet torment — stop manual rate updates and join Earnix for an interview with our Professional Services leader to get practical, battle-tested guidance for implementing AI-driven pricing analytics and optimization.

This virtual discussion explores the developments taking place within the consumer finance sector, predictive AI and data analytics, whilst examining specific growth opportunities in loan personalization, affordability, pricing, and credit risk. 

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.

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.