Nuon AI insurance insights

Insurtech and AI insurance news.

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How Nuon AI works…

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.

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Welcome to Flatland

If you’re familiar with startup lore, you may well recognise that title. It comes from Valve’s Handbook for New Employees. The million-dollar question, of course, is how you scale such a model. There are three inspirations behind how we go about doing things at Nuon: Lean, Agile, and Growth Teams.

How Nuon AI works…

Within two hours, the insurer using Nuon has learned, adapted and recovered its conversion rate.

AI bias

The topic of AI bias is getting a lot of airtime at the moment. As it should. There have been a number of embarrassing public blunders and with the influence of AI on real-world decisions spreading, no one wants to see mistakes repeated at larger scale. But why does bias matter so much? How does it get into an AI? What are people, including us at Nuon, doing to avoid it? And, what the heck is bias anyway?

The Great Learning Opportunity of Failure

What may be viewed as failure to some, may actually be an organisation’s strength, because this is how you learn, evolve and grow, and in times like these, where Covid has disrupted almost every aspect of our lives, a willingness to test, experiment and fail may actually be the thing that allows a business to survive.

Why reinforcement learning for insurance pricing?

The heart of Nuon’s Artificial Intelligence software is a set of proprietary algorithms based on Reinforcement Learning (RL) So why do we use RL? In simple terms, RL allows us to run experiments on live quotation and sales data – and learn from them.

That’s AI right?

The term AI (Artificial Intelligence) is used rather loosely today to describe all kinds of things. Leading some to get annoyed over its use, or apparent misuse. A week rarely goes by without a “the robots are coming and they’re going to take your job!!” story in the media – most of which will refer to AI; and more and more products are sold claiming AI features of one kind or another. Why so now, and why get annoyed?

Nuon AI insurance insights

Insurtech and AI insurance news.

Featured:

How Nuon AI works…

Welcome to Flatland

How Nuon AI works…

AI bias

The Great Learning Opportunity of Failure

Why reinforcement learning for insurance pricing?

That’s AI right?

Turn your grey matter neon