Hey State Farm,
Imagine if you could improve your combined operating ratio by 10% or more. If you were able to reduce underwriting losses and react immediately to market changes. If you had one single source of truth for your entire pricing ecosystem. Imagine if State Farm could more accurately outthink and outperform its most formidable competitors.
It starts with Earnix.
Reimagine what's possible.
When using disparate tools such as self-built rating engines, SAS, Python, R, and more, your pricing ecosystem resembles a siloed infrastructure that reduces speed and agility, limits pricing and rating sophistication, allows errors to creep in, and impairs transparency, visibility, and governance.
With Earnix, your entire end-to-end pricing and ratemaking journey could be carried out in one single source of truth and that siloed infrastructure is transformed into a seamless assembly line of well-thought-out and fully governed tasks.
What could this mean for State Farm?
Reduced Underwriting Losses
Advanced analytics and machine learning improve risk assessment, pricing accuracy, and fraud detection, resulting in fewer underwriting losses.
Rate Agility
Quickly and efficiently adjust pricing in real-time, allowing you to respond rapidly to market changes and maintain competitive rates.
Accelerate Your Modernization
Improve pricing agility for speed-to-market and significant cost savings.
Rate Governance
With Earnix, you can be confident that your production rates match your intended and filed rates with our robust rate governance capabilities.
Automated Filing
With automated document generation, Earnix customers have a <0.5% filing process errors and fines.
No Handoffs
Directly connect your pricing and rating capabilities, resulting in no handoffs and less time spent validating between systems.
USAA is using Earnix to accelerate their decisioning processes and remain competitive in the market.
In this video, hear from David Cummings, Chief Actuary & Head of Analytics at USAA, as he shares his insights and story of using Earnix. Learn how Earnix's solutions have enhanced USAA's operations, improved data quality, and accelerated their speed to market. Plus, explore how they are leveraging the platform to meet customer demands and drive growth.
With Earnix, State Farm gets:
Unified Infrastructure: Eliminate the need for disparate systems and handoffs, ensuring a seamless and efficient pricing and rating process.
Faster Time to Market: Accelerate the rate testing and deployment process, reducing the time from months or weeks to just a matter of days.
Competitive Advantage: Your competitors are using Earnix – you should be too. Stay ahead of your competition with faster and more accurate pricing and rating capabilities.
Dramatic Reductions in Underwriting Losses: Your risks can be so carefully priced and selected that the specter of billions of dollars in underwriting losses could be a thing of the past.
Real-Time Collaboration: Ensure a single source of truth, reducing errors and improving accuracy.
Comprehensive Data Integration: Seamlessly integrate and analyze data from various sources, ensuring a holistic view of risk and financial performance.
Regulatory Compliance: Stay ahead of regulatory requirements with built-in compliance features and audit trails, reducing the burden of manual reporting.
Increased Efficiency: Reduced time and resources spent on manual processes, allowing teams to focus on strategic initiatives.
Advanced Analytics: Leverage data-driven decision-making to optimize pricing strategies.
Scalability and Flexibility: Whether you're a small firm or a large enterprise, Earnix scales to meet your needs, offering customizable solutions to fit your unique requirements.
Plug and Play Accelerators: Tailored to integrate seamlessly with Gudewire PolicyCenter, streamlining rating processes, reducing errors, and enabling your teams to focus on innovation, not core system constraints.
