Make live adjustments to insurance product market pricing to maximise profitability and beat the competition.
Real-time pricing reacts to market conditions
Proprietary
Reinforcement Learning algorithms
Secure, compliant and fully auditable
Bespoke user-configurable AI dashboard
Nuon AI’s real-time AI pricing solves 3 distinct problems for insurance customers, enabling peak product performance across both new business and renewals.
Increase take-up rate
Maximise policy take-up by as much as 30%+ using our unique AI retail pricing solution.
Increase average premium
Find optimal price points for premium that allow for an average overall premium increase as high as 40%+.
React to market conditions fast
Adapt retail pricing faster than the competition, even during unplanned market events.
Entry requirements:
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 pervasive logic among insurers when it comes to insurance tech. No one wants to be first, but everyone wants to be second. This makes a certain kind of sense. Being the first to adopt new tech carries risk, but of course, no one wants to be left behind.
Once integrated with Nuon’s AI, insurance customers can access a powerful MI dashboard to monitor, gain insight and extract data on the AI’s performance. In this blog, we walk through just some of the live metrics covered within the dashboard, putting an insurer in complete control of the AI.
Nuon AI Ltd, 57 The Boundary, Langton Green, Tunbridge Wells, England, TN3 0YA
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