Earnix, a provider of AI-based SaaS solutions, has partnered with Exavalu, an insurance digital advisory and system integration consulting firm, to help property and casualty (P&C) insurance carriers modernise pricing and rating flexibility.
In a turbulent insurance market, where traditional pricing models are inflexible and antiquated, this partnership aims to combine technology – like I and machine learning – and solutions consulting expertise to ensure operational flexibility and solid integration with core policy management systems.
Saurav Basu, President and Founder, Exavalu Inc., commented: “As carriers modernise their core, digital and data capabilities, improving pricing analytics, accelerating market data integration and automating rate manufacturing and deployment using a single modern, low-code pricing and rating system become essential for speed to market.
“Exavalu’s deep insurance technology and operational advisory and implementation expertise complement the power and flexibility of the Earnix platform to create a competitive advantage for digital carriers.”
As a solution provider, Earnix enables real-time decision-making using robust analytical modelling and AI capabilities.
This partnership will allow carriers to swiftly launch personalised products with flexible pricing based on pricing analytics and modern rate management processes.
This will ensure the alignment of pricing strategies with flexible business goals, the partners noted.
“We are thrilled to combine the decades of experience of Exavalu’s advisory services, technology consulting and system integration teams with Earnix’s technology to meet the most pressing strategic transformational challenges of top tier insurers,” said Ruth Fisk, Head of Business Development at Earnix.
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