Earnix has announced a collaboration with J.D. Power. Together, the two companies offer insurance carriers and auto lending banks and companies the ability to utilize granular and precise information for dynamic pricing strategies.
This joint effort aims to empower auto lenders to leverage the use of J.D. Power PIN Navigator data for increased pricing and personalization sophistication. In explaining the collaboration’s value proposition, the companies note that, today, there is intense pressure on auto lenders to adjust pricing strategies consistently to reflect increased interest rates, competitors’ pricing approaches and customers’ expectations. “J.D. Power PIN Navigator data is an indispensable source of market data for lenders as it allows comparisons to auto finance offerings and the agility to fine tune customer options,” a joint statement asserts.
“With inflation on everyone’s mind, it is important for enterprises to find solutions to manage it. For banks and insurance carriers, adding vehicle data to machine learning models ensures proper risk alignment and dynamic pricing for their customers,” comments Dror Pockard, Chief Strategy Officer, Earnix. “The data integration of J.D. Power vehicle data with Earnix Price-It is critical for carriers and auto lenders to weather the challenges posed by inflation. With more auto lenders providing joint lending and insurance products, the fact that Earnix Price-It can support both in one solution offers a great way to maximize customer lifetime value across both products.”