Bupa Acıbadem Sigorta and Lumnion launcheda collaboration to improve Bupa Acıbadem Sigorta's pricing process throughLumnion's AI-based Non-Life Pricing platform.
Lumnion, an expert in the field ofinsurance pricing, especially in machine learning modeling, will support BupaAcıbadem, which was founded in 1992 and is the only company in Turkeyspecialized only in health insurance, in the development of the pricing processthrough its AI-based platform.
Cenk Tabakoğlu, CEO of Lumnion, said:"We are delighted to support Bupa Acıbadem Insurance in developing itspricing processes using Lumnion's AI-based platform. Health insurances areundergoing a significant transformation due to the increasing costs ofhealthcare services, competitive environment and changing regulations. Healthinsurance stands out as the area where next-generation modeling tools are mostneeded. With the growth of portfolios, the importance of accurate pricing inthis area is emerging even more rapidly. Machine learning algorithms are veryuseful in revealing these relationships, especially in the sector where data isabundant and mapping the relationships between disease, treatment and hospitalnetworks is very important in risk management. As Lumnion, it is an importantpriority for us to become the leading actuarial platform in the field ofhealthcare all over the world.«
Yasemin Albayrak, CAO of Bupa AcıbademSigorta, said: ""Bupa Acıbadem Sigorta, specialized in healthinsurance, brings Bupa's global vision and experience to our country.Implementing innovations in the field of integrated health services is amongour main priorities. As an important reflection of this, we focus on offeringthe best to our customers with innovative processes and systems with a focus ofdigital transformation and carrying our sector forward. We are very pleased tocooperate with Lumnion, an expert in the field, to implement a new generationpricing system supported by advanced technologies. We strongly believe thatthis artificial intelligence and machine learning-based system will strengthenour efforts to help our customers live longer, healthier, and happierlives."