Boston, U.S. & London, U.K. – June 15, 2021 – Earnix, a global provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has been selected by one of the largest banking and insurance institutions in the Czech Republic, ČSOB Group, to integrate Earnix’s analytical personalization system into its personal lines insurance offering. Driven by cutting-edge analytics, artificial intelligence (AI) and machine learning (ML), Earnix’s “Personalize-It” solution determines and delivers the optimum product bundle(s) for insurance customers, thereby making the purchasing experience highly personalized and increasing consumer satisfaction while improving conversion and retention rates.
“With our solution, ČSOB Insurance can take personalization to a higher level while meeting business objectives and maintaining a competitive advantage in the market,” said Udi Ziv, CEO at Earnix. “At a time when consumers are provided with dozens of insurance options, we empower insurers to position themselves as the best choice for consumers across global markets.”
Jiří Střelický, CEO at ČSOB Insurance added: “ČSOB Insurance has for several years improved competitive advantage through data and analytics. Earnix’s personalization system is a milestone in how we will push ČSOB Insurance further ahead of its competition as we now offer more tailored products and rates based on customers’ various needs in a more sophisticated and analytically driven manner. ČSOB Insurance is in a strong position to continue on its path to capture greater market share and meet revenue targets both immediately and in the long-term.”
Peter Reynolds, Head of Insurance, International at Earnix added: “With Earnix, ČSOB Insurance can now instantaneously deliver highly personalized products through a single, end-to-end system, meeting the high demand for personalized insurance offers with speed and agility.”
Earnix’s unique single platform offering combines highly personalized products, dynamic pricing, and contextual engagement capabilities with the ability to operationalize data and offer dynamic pricing. By combining AI with proven analytical methodologies, Earnix’s unique approach delivers robust personalization by adapting rates and products while considering competitor offerings and consumer demand. Its solution has been pre-configured for rapid integration within an insurer’s existing tech infrastructure, further accelerating time-to-value.
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About ČSOB Group
ČSOB Group is a leading bank-insurer in the Czech Republic. The company is a subsidiary of bank-insurance group KBC Group providing its services to all groups of clients, i.e., retail (individuals) as well as SME, corporate and institutional clients. ČSOB Group offers its clients a wide range of banking and insurance products.
Communiqués de presse > Banque > ČSOB Insurance Selects Earnix to Implement Personalized Consumer Products and Rates
ČSOB Insurance Selects Earnix to Implement Personalized Consumer Products and Rates
June 15, 2021
- Banque
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About Earnix
Earnix is the first AI company purpose-built for insurance decisioning, providing the industry with the intelligence, governance, and decisioning agility to drive profitable growth, improve resilience, and operate with speed and precision in a rapidly changing risk environment. A trusted provider of production-grade AI and decisioning technology, Earnix builds on more than 25 years of experience in artificial intelligence risk, pricing, rating, analytics, and decisioning. Earnix brings vertical AI into the workflows and decisions that shape insurance performance across insurers’ pricing, underwriting, claims, customer engagement, retention, and other insurers high-value insurance moments. Earnix’s AIOS enables insurers to orchestrate intelligence across the insurance decision lifecycle and drive governed, real-time decisions that deliver measurable business outcomes. Earnix is headquartered in Boston, MA and 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. For more information, visit www.earnix.com.