Earnix 3D Personalization for Home Insurance

Personalize Homeowners Policies to Meet Customer Needs While Optimizing Business Objectives

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Personalizing Policy Prices, Coverages, and Add-ons Provides Premium Growth.

Personalizing coverage levels and premiums for home insurance policies can be complex. Insurers analyze countless variables, from occupant characteristics to property attributes, storm propensities and many more… but figuring out the right product bundle and price with advanced analytics and machine learning is just half of the story.

 

The Earnix Solution for Home Insurance

The  Earnix 3D Personalization Suite™ empowers home insurance professionals to use internal and external data to offer the right product, at the right price, at the right time, while optimizing business results, maintaining governance & compliance, and improving the enterprise-wide process of pricing and policy personalization. Earnix helps you understand your customers’ behavior including their propensity to retain or release a home insurance policy while driving growth, retention and long-term profitability.

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Solution Highlights

Dynamic Pricing, Rating, and Product Personalization

Banking and Insurance Companies can now predict and simulate the impacts of price-changes and product bundling decisions in real-time, and instantly deliver personalized rates to the market as soon as approved by local regulators.

Create Simple, Relevant, and Personalized Policies

The complexity of home Insurance policies can make them difficult to understand. With Earnix, you can define, personalize, and deploy complex home insurance bundles in a simple manner, giving consumers a limited number of individually tailored choices instead of a large number of standard options.

Enterprise-wide scalability

Many customers look to your company for all their insurance needs, not just for their homes. With the ability to develop a holistic view of your customer across multiple product lines, you can know how rate and coverage changes would impact your customer in the home-insurance category as well as in other lines of business, such as auto-insurance.

A Complete Rating Engine for Home Insurers

Earnix’s full rating engine capabilities allow for rates to be pushed quickly and efficiently to the market - and in real-time if needed. This speeds time to market in order to remain competitive while shortcutting the wait for your company’s legacy core system replacement, giving you the cost and time benefits of deployment agility now.

Earnix in Action

Get Policy Rate Changes to Market Quickly

Modify policy packages and premiums using analytics and deploy those changes to the market rapidly, expediting lengthy pricing approval processes. With Earnix, the pricing process is systemized, controlled, and governed via a single solution.

Easily Personalize Varying Home Insurance Policies

Home insurance policies - whether basic, broad, or comprehensive – aren’t valuable if they don’t benefit both the consumer and the insurer. With Earnix, you can define, personalize, and deploy complex home insurance policies in a simple manner, giving consumers a limited number of individually tailored choices versus numerous generic options.

Proactively Identify Customers Home Insurance Needs

Insurers have the data to identify home insurance needs. Earnix helps your organization put this data to use through analytics and event monitoring – which provides the ability to proactively identify and react to life stage and lifestyle needs with contextually personalized offers.

The Earnix Products

Earnix Price-it

Predict, simulate, decide and instantly deliver rates to market in a systematic, consistent, and governed manner.

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Earnix Personalize-it

Define, personalize, and deploy financial product bundles or variances that perfectly match each customer’s unique needs.

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Earnix Detect-it

Proactively identify patterns that suggest life event occurrence and react by delivering the right financial product at the right price.

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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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