Modeling Optimization with External Data

Lumnion’s external data from open and paid sources.
Provided data consist of statistically aggregated information from trusted and reliable sources.

Opportunity to obtain a 360° view of the customer by combining internal and non-insurance external data.

More precise risk models with the use of external data and ability to do behavioral pricing.

How it works?
Precise Results
Octopus enables the detection and use of appropriate external data that will be useful to the specific model. During modeling, the historical data is enriched with external data, allowing more precise modeling results.
GDPR Compliant Data
Octopus' external data does not contain any personal data. Instead, it creates customer personas, thus prevents having any conflicts with General Data Protection.
Personalized Pricing
Octopus allows companies to make pricing at a more personalized level with the use of aggregated statistical data. Statistics are available describing the risk or purchasing behavior of individual customers.
Customer segment detection is available for portfolio/campaign management with the help of external data.
Updated and Reliable Data Sources
Data is obtained from sources that are periodically and regularly updated; therefore, the data is always up to date. Lumnion continuously searches for new and reliable sources to further improve the data quality.
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