Earnix for Home Insurance Policy Personalization

Personalize your Homeowners Policies to Meet Individual Needs While Optimizing Business Objectives

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Use the power of Earnix Analytics to Profitably Increase Policy Conversion and Retention.

Personalizing premiums and coverage levels for home insurance policies is very complicated. Insurers must be able to analyze a myriad of variables, including occupant characteristics, property attributes, storm propensities and many other data elements. As a business professional, you are challenged with developing policy packages that most appropriately balance the volume and profit trade-offs of your portfolio with the need to understand customer data in order to most accurately price and personalize differing customer segments. What impacts do your pricing and personalization decisions have on business performance metrics? With Earnix, you will know.

The Earnix Solution for Home Insurance

Use internal and external data sources to model, price, and then personalize policies offered within your homeowner book of business against both business objectives, customer needs, and the overall market. Understand what variables drive growth, retention and long-term profitability. Do all of this via a single, comprehensive analytical solution suite.

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Solution Highlights

Know the Impacts of Multiproduct Pricing and Personalization

Many customers look to your company for all of their insurance needs, not just for homeowners. Earnix enables you to develop a holistic customer view across all of your lines of business. Since customer decisions are not made in a silo, rate and coverage impacts of one product may impact other lines of business, like auto and home. With the Earnix solution, you can dynamically price, personalize, and deploy multiple product packages simultaneously, understanding cross price effects and measuring rate impact across the entire portfolio of products.

Big Data Versus the Right Data

Easily sift through big data from both traditional and emerging sources to uncover the variables that best fit your modeling needs and activities, eliminating time-consuming trial and error and daunting data management tasks.

Territorial Modeling

Add a geographic dimension to your home and auto risk premium modeling with geospatial data analytics embedded in your loss-cost prediction. Enhance the accuracy of your analysis and simplify the communication of results.

A Complete Rating Engine for Home Insurers

Earnix Price-it gives home insurers the ability to quickly and efficiently define, deploy, and update rates without the need for ongoing IT support. Earnix’s full rating engine capabilities allow for rates to be pushed quickly and efficiently to the market - and in real time if needed. These capabilities shortcut the wait for your company’s legacy core system replacement, giving you the benefits of deployment agility now.

Tap Into Powerful Modeling

Leverage traditional and state-of-the-art statistical methodologies — including Generalized Linear Models (GLM), Generalized Additive Models (GAM) and machine learning models — to make actuarial work faster, easier and more accurate. The result: more of the right homeowner policies written.

Earnix in Action

Collaborate to Succeed

Unlike desktop-based tools, Earnix provides a multiuser enterprise solution that empowers collaboration within each team across the organization. This enables managers at all levels to oversee the work of team members and establish consistent, transparent pricing processes.

Easy Deployment

Earnix is enterprise-grade software that can be deployed in the cloud or on premise, providing flexible options to meet immediate and future needs. Using the Earnix cloud option, you can instantly make the solution available across your organization and establish a unified analytical process.

Industry Professionals

Earnix Professional Services supports insurance customers at every stage of the implementation and deployment process. Our world-class industry experts are available to guide users to extract the maximum value from the platform. Our financial services experience ensures that we understand the data and analytical processes that translate to growth.

Our Experts at Your Service

Earnix Professional Services supports home insurance companies at every stage of the implementation and deployment process. Our industry experts are available to instruct users on leveraging all the benefits of the platform. The Earnix support model is designed to provide as much or as little assistance as required. At the end of the process, you will have the know-how and the analytical tools to make data-driven, optimized decisions.

Improving Results — What Customers Say

“The use of Earnix contributed to an increase in net profitability of +1.6% Gross Written Premium and a 0.3% gain in market share. Knowing how and why customers were making decisions allowed us to tailor products and offers in order to drive growth.”
— Large European Insurance Company

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New at Earnix

Earnix Price-it Rating Engine Brochure

Read about the Earnix Price-it capabilities as a product pricing engine for insurers around the world.

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Our Latest Blog

Blog: From Analytics-Driven Pricing to 3D Personalization

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Check out where you can meet Earnix in the coming months.

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