Machine Learning

ČSOB Insurance Selects ML-driven Earnix

Earnix, a global provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has been selected by one of the largest banking and insurance institutions in the Czech Republic, ČSOB Group, to integrate Earnix’s analytical personalization system into its personal lines insurance offering. Driven by cutting-edge analytics, artificial intelligence (AI) and machine learning (ML), Earnix’s “Personalize-It” solution determines and delivers the optimum product bundle(s) for insurance customers, thereby making the purchasing experience highly personalized and increasing consumer satisfaction while improving conversion and retention rates.

“With our solution, ČSOB Insurance can take personalization to a higher level while meeting business objectives and maintaining a competitive advantage in the market,” said Udi Ziv, CEO at Earnix. “At a time when consumers are provided with dozens of insurance options, we empower insurers to position themselves as the best choice for consumers across global markets.”

Jiří Střelický, CEO at ČSOB Insurance added:“ČSOB Insurance has for several years improved competitive advantage through data and analytics. Earnix’s personalization system is a milestone in how we will push ČSOB Insurance further ahead of its competition as we now offer more tailored products and rates based on customers’ various needs in a more sophisticated and analytically driven manner. ČSOB Insurance is in a strong position to continue on its path to capture greater market share and meet revenue targets both immediately and in the long-term.”

Peter Reynolds, Head of Insurance, International at Earnix added: “With Earnix, ČSOB Insurance can now instantaneously deliver highly personalized products through a single, end-to-end system, meeting the high demand for personalized insurance offers with speed and agility.”

Earnix’s unique single platform offering combines highly personalized products, dynamic pricing, and contextual engagement capabilities with the ability to operationalize data and offer dynamic pricing. By combining AI with proven analytical methodologies, Earnix’s unique approach delivers robust personalization by adapting rates and products while considering competitor offerings and consumer demand. Its solution has been pre-configured for rapid integration within an insurer’s existing tech infrastructure, further accelerating time-to-value.

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