AI Use Case
Create more personalised insurance pricing based on actual monitored customer behaviour
Create more personalised insurance pricing based on actual monitored customer behaviour. Examples would include 'black box' functionality in the car or wearable sensors on the body . Essentially the customer agrees to swap hitherto private data in return for what they expect to be lower pricing as the insurer can better measure real risk - and potentially the exact circumstances around an insurance claim.
Risk reduction - Evaluate counter-party risk (eg credit scores),Revenue - Pricing optimisation,Revenue - Personalisation
Allstate~Allstate is offering pay-as-you-drive plans based on measurement and analysis of customer real-time driving behaviour resulting in up to 30% reduction in premiums
Product - Data Capture - Telematics,Product - Data Capture - Sensor IoT,Product - Data Capture - Actigraph,Traditional AI