With the release of Pinpoint Loss Predictions, Pinpoint is bringing the earliest, and the most accurate, profitability predictions to Property and Casualty insurers. This is the first commercial solution powered by deep-learning, built on trillions of behavioral data points, and includes predictions for claims frequency, severity, and loss cost.
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Examples of Pinpoint Loss Predictions better concentrating higher and lower real-world loss ratios when compared to baseline pricing models (Graphic: Business Wire)
By focusing the solution on the top-of-funnel, and prior to filed rating, underwriting, or any outcome determination, Pinpoint provides insurers with unprecedented flexibility in creating relevant customer journeys to better manage their book of business. The Pinpoint Loss Predictionjo solution Pinpoint’s Risk Scores, which insurers are using to predict an individual’s likelihood for litigation, SIU referral, early cancellation, or premium leakage. Both products are available for risk selection at top-of-funnel and pre-renewal.
While providing top-of-funnel predictions are key to prioritizing individuals who will have the most positive impact on loss ratios, Pinpoint Loss Predictions also offer unmatched accuracy. This accuracy enables insurers to more effectively manage the profitability of their business.
When compared with baseline pricing models (shown in the yellow lines), Pinpoint Loss Predictions better concentrate higher and lower real-world loss ratios across percentile-based segments (shown in the green …