Banking and insurance industries are often stressing on customer analytics which they earlier conducted manually. Those were the times when customer analytics software had not been introduced into the market. Industry professionals had to rely on information they collected when making decisions they believed would be best suited for the customer. They didn’t have any pricing engine open source which would allow them to determine decisions regarding optimized quotes or pricing structures. Things have fortunately changed for the better by Earnix which has provided world-class integrated pricing and business decision-making software suite which has been customized for the financial services industry. The Earnix predictive analytics software suite is helping companies to maximize the key performance indicators of their business.
The Earnix Suite for banking is empowering executives of the bank to make faster decisions which are data-driven and result in optimized rates and terms, offer structures for greater customer engagement and improved business KPIs. The suite of analytics from Earnix is comprehensive and can assist data scientists and analysts to orchestrate product targeting and pricing decisions across the entire portfolio of the bank.
The insurance industry can also benefit from the Earnix Suite because it can empower insurance executives to make data-driven pricing and business decisions which can result in optimized quotes and pricing structures. The analytical models used in the suite integrate demographic, competitive, behavioral, and risk data along with emerging data sources like Telematics. This comprehensive solution provides actuaries as well as data scientists everything they need to produce results that are fast and reliable.
Earnix has a track record which is long and can make a direct and measurable impact on the key financial metrics of a client. The ability of this solution to reliably predict and simulate business outcomes can empower executives to act fast with confidence. The actions taken by the executives generally result in increased profitability, net interest margins and volumes, conversion and retention metrics along with the reduced costs while serving.
The Earnix solution enables financial institutions such as banks and insurance companies to streamline and automate their entire life cycle of pricing and offers management beginning from data management and modeling to production release and reporting. The pricing strategies can become as granular or dynamic as required and can also be tested and adjusted in real time. The Earnix solution accelerates time to market and provides insurers and bankers along with other financial institutions to become highly responsive to the changing market conditions by integrating data-driven decision-making into their business process.
Earnix has been providing solutions and services to sophisticated insurance companies and banks throughout the world for approximately two decades. Their consulting teams are experts in the operational aspects of the industry of financial services. They are willing to work with the financial services industry to help them develop analytical programs which enable the institution to predict risk and prescribe prices that are most suitable. Institutions will be self-sufficient and have enough know-how and the analytical tools needed to make data-driven optimized decisions after they decide to begin dealing with Earnix.
The banking and insurance industries are facing increased levels of competition amongst themselves and are vying to grab the attention of customers in their respective markets. It has become increasingly necessary for them to have solutions in their possession which will help them not just to manage their customers but also to predict customer behavior with the help of customer analytics software. Industry professionals still need to make the critical decisions but will have the ability to benefit from the solutions being provided by Earnix.