How technology platform providers can accelerate insurance transformation through AI
To help us – and our customers- understand the workings of Nuon’s AI algorithms we use visual tools. These help us track how the AI is hanging together, as well as provide our customers with real-time insights into how their products are performing.
How we use visual tools to build Nuon AI
To help us – and our customers- understand the workings of Nuon’s AI algorithms we use visual tools. These help us track how the AI is hanging together, as well as provide our customers with real-time insights into how their products are performing.
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.
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.
