AI can help insurance companies analyze large amounts of data to identify patterns and make predictions about risks. This can help the companies to assess the likelihood of a claim being filed and to set premiums accordingly. In addition, AI can be used to help detect fraud by analyzing data for anomalies and red flags. This can help insurance companies to protect themselves from financial loss due to fraudulent activity.
Lumnion’s open platform allows the use of all widely accepted Machine Learning Algorithms for risk modelling.
Lumnion’s Data Preparation Module (Bee) will allow you to prepare the data for modeling or analyzing with in the few clicks.
No, all modules can be used separately all needed modules can be activated at different times.
Yes, Lumnion has its own actuarial data scientist team which provides consultancy and help you to build the whole process.
Yes, Lumnion can deploy whole platform including Pricing Engine on premise and any data will not leave your company.