“Instead of the months (or more) of time required by other vendors that we evaluated, only a few hours were needed to implement the amplifair™ solution.”
Global Top 10 Insurance Company, Lead Pricing Actuary
Uncover Profit Opportunities Using Segmentation
Update underwriting procedures without waiting months for retraining
Actionable insights
Combining risk, conversion rate, churn, renewal data into profit opportunities
Unprecedented visibility
Rule based insights can be instantly implemented on top of existing systems
Easy installation
Short time to in-production results of 6-8 weeks on average
Quick evaluation
How It Works
Replace inefficient risk and pricing models
Generalized Linear Models (GLMs) are used to determine risk levels. The problem is that these models tend to be subjective, susceptive to over-fitting, and not adaptive to complex real-world scenarios. This leads to high claim frequency or default rates when pricing is too low and lost business when pricing is too high.
amplifAIr™ applies Advanced Artificial Intelligence to anonymized historical data. Learning algorithms are trained to identify customer segments whose risks are misaligned with pricing. With granular levels of information, new customers can be assigned to a subsegment that is based on their risk profile and offered pricing discounts that are calibrated to this risk.
Risk-Premium Alignment
Use Machine Learning to improve the models (linear, additive, etc.). In this way, it is now possible to close the gap between traditional risk assessment and actual risk.
Risk-Premium Alignment
Pricing Accuracy
With improvements in segmentation, customers can be offered pricing discounts that reflect their underlying risks, thereby optimizing portfolio profitability.
Pricing Accuracy
Alerts and Monitoring
Instead of periodic risk and policy updates, underwriters can receive updated customer segment information, allowing them to align risk and pricing in (close to) real-time.
Alerts and Monitoring
Human Readable Rules
AI does not have to be a ‘black box.’ amplifAIr™ model recommendations are easy to interpret so that they can be applied in real-world scenarios.
Human Readable Rules
Explainable AI and Data Transparency
Use Machine Learning to improve the models (linear, additive, etc.). In this way, it is now possible to close the gap between traditional risk assessment and actual risk.
Explainable AI and Data Transparency
More Revenue, Lower Loss Ratios
Maximize market share by offering competitively priced policies to lower-risk customers.
Improve Market Share by 14.3%
Aligning pricing with customer risk profiles leads to a reduction in the portfolio loss ratio.
Reduce Loss Ratio by 8.7%
The “noise” from risk misalignment hurts the bottom line. With amplifAIr, insurance companies and loan originators can build healthy portfolios and minimize loss ratios.
About Us
Frictionless pricing. A new approach to an old problem.
We founded amplifAIr™ as a game-changing platform designed to meet the challenges of pricing models in the BFSI sector.
Our frictionless platform mitigates pricing mismatches and increases market share and profitability.
With no IT time investment required, our platform offers instant value which can be implemented directly into your specific discount policy.
Instead of periodic risk and policy updates, underwriters can receive updated customer segment information, allowing them to align risk and pricing in (close to) real-time.
What
With improvements in segmentation, customers can be offered pricing discounts that reflect their underlying risks, thereby optimizing portfolio profitability.
How
Use Machine Learning to improve the models (linear, additive, etc.). In this way, it is now possible to close the gap between traditional risk assessment and actual risk.
Why
Meet The Team
Why companies love amplifAIr
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Sean Farmer
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Sean Farmer
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Sean Farmer
