Real-time pricing reacts to market conditions
Proprietary
Reinforcement Learning algorithms
Secure, compliant and fully auditable
Bespoke user-configurable AI dashboard
Nuon’s Price Adjust AI is making algorithmic underwriting a reality for insurers, brokers, MGAs and insurance technology platforms.
Our unique, API-connected real-time pricing technology gives your pricing strategy a true competitive edge.
Seamlessly run millions of experiments to optimise insurance pricing, react to competitor price changes fast, and protect profitability by reducing the risk of money being left on the table.
The Nuon AI platform becomes a central ‘brain’ for the insurer, broker or MGA.
The heart of Nuon’s Artificial Intelligence is a set of proprietary algorithms based on Reinforcement Learning (RL). RL allows Nuon to run experiments on live quotation, sales and renewals data, identifying trends, patterns and applying learnings.
The Nuon Customer Dashboard provides a real-time view of data and AI suggested price changes, this keeps you the customer, in total control.
Nuon’s vision is to apply AI across the full insurance product lifecycle, from the quote and purchase stage to claims and renewal.
Like adding an advanced ‘digital brain’ Nuon provides insurers with a deep insight and competitive advantage. Our unique real-time pricing AI learns fast as it runs millions of experiments. Choose to apply changes live or review retrospectively as validation of your current pricing models.
Next, our AI solutions will be deployed to predict claims severity and frequency, and deliver the optimal price and value to the right risks at renewal.
The outcome is clear: Grow market share and improve profitability while giving target customers fair value and an enhanced product experience.
This real-world simulation shows how the Nuon algorithm identifies and responds to a competitor who makes a factor change. This particular scenario sees a price reduction on a motor product for legal cover.
Within two hours, the insurer using Nuon has learned, adapted and recovered its conversion rate.
There’s a lot of buzz around AI in all areas of our life. How people feel about that covers the full range of positive, negative or indifferent emotions. In this blog, we get to the heart of what AI means for insurance.
Could Nuon AI help your insurance organisation uncover new profit and market growth? Read frequently asked questions on how the tech works.
Nuon AI Ltd, 57 The Boundary, Langton Green, Tunbridge Wells, England, TN3 0YA
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