Insurance costs
Predict individual insurance costs based on historical health data.
The problem
In insurance companies, the pricing of insurance is the core element, as the deals must be profitable and the company should make a profit. For claims management and the pricing based on it, a large number of variables of the respective person have to be taken into account, which are very time-consuming if entered manually.
Our solution
This is where the ai.dopt software comes in, allowing your company to create predictive analytics based on available data that incorporates the multitude of variables. For example, insurance costs can be predicted based on historical health and demographic data, and an appropriate pricing model - tailored to the individual - can be created. Thus, based on the patterns discovered as a function of the complex variables, our AI-based model can predict the likely costs for any number of new individuals.
Your added value
The model created by our software is able to calculate the expected costs for all new people in order to offer potential customers insurance policies that are customized for them. This results in clear and reasonable prices for the individual insurances and the costs for underestimated insurance services can be minimized.
Other Use Cases
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