By Richard Anderson / Co-Founder, Nuon AI
Insurance customers powered by Nuon AI’s real-time pricing software have access to a bespoke dashboard to monitor, gain insight and extract data on the AI’s performance. Think of it as the nerve centre of the AI for insurers.
We’re continuously learning and listening to customer feedback to guide new improvements. While many enhancements go on behind the scenes, we’ve just released a number of exciting updates to the customer dashboard which unlock powerful new capabilities and improve efficiency.
Don’t miss: Take a walk through the Nuon AI Dashboard in full
Here’s Nuon AI co-founder Richard Anderson with an update on this exciting new release…
RUN & ANALYSE A:B TESTS
When implementing Nuon AI for customers, we run A:B tests to help prove scientifically just how effective the AI is. Now, to test and track uplifts being delivered by the AI, customers can launch and view the results of A:B tests on AI vs. non-AI pricing from directly within the dashboard.
Internally, the AI is effectively running A:B tests continuously on a grand scale, but this release means customers can now control what proportion of business goes into the AI, and what proportion the AI leaves untouched. The results are collated by day to give a transparent picture of how the AI is performing.
Downloadable sales reports now available
Insurance customers can now access a comprehensive daily sales report detailing sales performance with key insights including the number of policies purchased, rated premium, AI premium and binding ratio. This report can be viewed within the dashboard or downloaded as an extract for further analysis.
This breakdown of sales data is fascinating enough, but there is more to come. For example, charts describing how sales for a specific cohort are being affected by the AI. Is price more elastic in one geographic location or another? Has a market event led to an increase in purchases from people in a specific age group?
Watch this space.
Control the AI
Keeping customers in control of the AI is one of the key foundations of the Nuon AI product, and this release provides further tools to our team to enable this.
Now, the dashboard contains a new AI Configuration area where settings including upper and lower adjustment thresholds, premium lower limits and quote periods can be adjusted. As you would expect, any changes made here are audited & logged so the system can be returned to a previous configuration safely.
The next addition to this area will be the management of the AI’s cohort-specific limits – currently controlled by an API. This will make it easier to manage the AI’s configuration for specific groups (e.g. geographical regions).
Want to find out more about these updates and how the Nuon AI software and dashboard could benefit your business? Hit the link below to get in touch.