Nuon Bid

As the name suggests, Nuon AI’s Nuon Bid stops a quote from being presented in the event where there is a high probability it will not be purchased.

This can be useful for insurance companies competing on aggregator sites such as GoCompare who are concerned with their click-to-purchase ratio.

Nuon Bid observes the flow of quotes through the system and using AI, evaluates the probability of a quote being purchased. 

Based on feedback from purchases and an understanding of the desired click-to-purchase ratio, Nuon Bid will automatically limit the quotes that are least likely to be purchased. Nuon Bid experiments in real-time, constantly allowing it to adjust to market conditions.

Nuon Bid is configurable and will allow an underwriter to bias rating factors in the case where an insurance company is growing a book for a given profile. 

It can also be used in conjunction with Nuon AI’s Live Price Adjust to changing pricing as far as possible, rejecting the quote if a purchasable price cannot be reached.