Earnix Enhances its Rating and Pricing Solutions to Maximize Transparency and Governance

This new feature is a part of Earnix’s effort to continuously improve its system aimed at helping insurers and banks provide faster and smarter personalized products to consumers

BOSTON, August 03, 2021--(BUSINESS WIRE)--Today, Earnix, a leading provider of advanced rating, pricing and product personalization solutions for insurers and banks, announced robust enhancements to the rating and pricing system designed to increase transparency, assure compliance, and build consumer trust. Earnix’s new feature allows for the rating/pricing structure to be segmented out into specific parameters ensuring that the insurance company or bank, as well as the consumer, understand which factors contributed to the final rate delivered.

"At Earnix, we are focused on developing product enhancements that are responsive to the business objectives of insurers and banks and exceed consumer expectations. This feature ensures that companies can provide consumers with transparent, highly personalized offerings through a system that is fully governed and compliant," said Udi Ziv, CEO at Earnix. "With this feature, companies can understand which specific factors are considered when a rate or price is being developed and the precise values that went into determining a personalized product offering are transparent and accessible to the consumer. This capability also increases insurers’ and banks’ flexibility as consumers and regulators can be provided with the exact information they need when they need it," said Yaron Lavie, Vice President of Products at Earnix.

Earnix continuously enhances its products to further empower insurers and banks to provide dynamic rating and pricing solutions that meet consumer needs in real-time with highly personalized product offerings. With this enhanced capability, insurers and banks can clearly see how rates and prices are determined and provide consumers a better understanding of what factors are influencing the offers they receive in a fully compliant, automated, agile and transparent manner.