Earnix Announces Strategic Collaboration with NTT DATA to Drive Insurance Innovation and Enhance Customer Capabilities with AI
June 26, 2024
- Insurance
BOSTON, June 26, 2024 - Earnix, the leading global provider of AI-based SaaS solutions for financial services, today announced a global collaboration with NTT DATA, a digital business and IT services leader, to support leading property and casualty insurance carriers with cloud-based intelligent solutions for pricing, rating, underwriting, and policy personalization. By seamlessly integrating Earnix’s comprehensive end-to-end solution with NTT DATA’s expertise in data migration, the partnership improves insurers time to market and ability to leverage data for innovation.
Research from NTT DATA’s report, Revolutionizing Insurance Through the Power of Data and AI, indicates that the global insurance analytics market, valued at $11 billion in 2022, is expected to surge to $35 billion by 2030, growing at an annual rate of 15.6%. Insurers are increasingly required to meet rising customer expectations for superior experiences and tailored products, all while navigating the constraints of outdated systems. Earnix addresses these challenges by utilizing AI to transform the rate-making process, enabling the incorporation of real-time feedback to create personalized customer experiences.
This partnership extends across the Property and Casualty sector, providing insurers with the agility required to navigate market changes and manage the complexities of legacy systems. By merging Earnix's innovative solution with NTT DATA's capabilities in service delivery, insurers can effectively tackle these challenges, streamline core systems, boost operational efficiencies, and provide personalized experiences to customers.
"Our partnership with NTT DATA is a game changer for insurers," said Ruth Fisk, Head of Business Development at Earnix. "Bringing together their powerhouse expertise in data management and pricing modernization with the strength of the Earnix platform, we can equip insurers with the insight and flexibility to respond quickly to shifting market needs."
"We take pride in driving transformative change in the insurance industry with AI-powered solutions," added Rob Baughman, Senior Vice President, Insurance Services, NTT DATA North America. "By integrating our products and services, we help clients achieve long-term success and identify opportunities for growth."
To learn more about the partnership between Earnix and NTT DATA, click here.
+++
About NTT DATA
NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. We invest over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure, and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group and headquartered in Tokyo. Visit us at nttdata.com
CONTACT:
Krystina Puleo
Global Director of External Communications
press@earnix.com
NTT DATA
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.