Kingstone Insurance Partners with Earnix to Improve Pricing Sophistication and Speed to Market
November 26, 2024
- Insurance
Kingston, NY — November 26, 2024 – Kingstone Companies, Inc. (Nasdaq: KINS) (the “Company” or “Kingstone”), a Northeast regional property and casualty insurance holding company, today announced that Kingstone Insurance has selected Earnix, a premier provider of mission-critical, cloud-based intelligent solutions across pricing, underwriting, rating, and product personalization, to enhance its pricing capabilities and support its strategic growth initiatives.
This partnership will enable Kingstone Insurance Company, the principal operating subsidiary of Kingstone and the 15th largest writer of homeowners insurance in New York, to leverage Earnix’s modeling and pricing solutions backed by robust data-science, analytical modeling, and artificial intelligence (“AI”) capabilities, allowing Kingstone to deliver more accurate pricing strategies by leveraging predictive modeling as well as improved implementation timelines.
Earnix’s unified platform that serves as a single source of truth across all organizational roles, will benefit Kingstone by providing built-in governance, version control, and explainability. This integration will also enable quick product roll-out and empower Kingstone to make informed pricing decisions and respond swiftly to changing market dynamics.
Meryl Golden, Chief Executive Officer of Kingstone, stated, “Partnering with Earnix aligns perfectly with our longterm vision for growth and innovation. Their solutions will improve the efficacy of our pricing team’s work, ensuring we remain ahead of the competition in a rapidly evolving market.”
Robin Gilthorpe, Chief Executive Officer of Earnix, expressed enthusiasm about the partnership, saying, “We are proud to collaborate with Kingstone Insurance, a forward-thinking insurer committed to enhancing its pricing strategies. Our solutions will help Kingstone operationalize its strategic objectives, enabling them to maintain and expand their market presence.”
This partnership marks a significant milestone for both companies, as they work together to drive innovation in the homeowner's insurance market.
Kingstone Companies, Inc.
Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company (“KICO”). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO is actively writing personal lines and commercial auto insurance in New York, and in 2023 was the 15th largest writer of homeowners insurance in New York. KICO is also licensed in New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine.
Kingstone Investor Relations Contact:
Karin Daly
Vice President The Equity Group Inc.
Earnix Communications Contact:
Krystina Puleo
Global Director of External Communications
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.