Explainable AI and how it is transforming Insurance
Logical Glue is the leading cloud based predictive analytics platform for the insurance sector. We use Explainable Artificial Intelligence (XAI) to deliver actionable insight to insurers, in order to improve profitability.
The power of XAI means being able to understand the reasons why decisions have been made in the form of human-interpretable rules, allowing better internal communication between technical and business users, and an improved experience for customers.
We partner with insurers, re-insurers and MGAs to predict, automate and improve areas along the entire customer journey such as quote conversion, risk pricing, claims process optimisation, and customer retention.
Working with other insurers, we have:
- Increased quote conversion by over 15%
- Reduced claims rate by 7%
- Increased automated underwriting by 47%
- Reduced fraudulent claims by 8%
The time to value for these benefits have been realised in a matter of weeks not months, I would be delighted to talk through some of our use cases in more detail, to learn more please contact Naveed Ashraf on firstname.lastname@example.org