Jewelers Mutual partners with H2O.ai
H2O.ai has announced Jewelers Mutual has chosen its AI platforms – H2O-3 open source and H2O Driverless AI – to prevent losses, and provide better protection and policies for both jewelers and customers.
“We have been in the jewelry insurance business for over 100 years, and our leadership team has been looking to raise the bar for technology-driven innovation in the industry. After two years of experimentation with AI and machine learning, we came to place a high value on model transparency and explainability. Our business end-users demanded it. The initial AI platform we used was lacking in this area so we began searching for a new platform. After evaluating several solutions in our search for the ideal AI platform, we chose H2O.ai because it provides us with the transparency we needed into our machine learning processes, much more flexibility than the other tools we evaluated, and the strongest machine learning explainability capabilities on the market. H2O.ai provides new avenues of innovation and allows us to build quality and insightful ML tools for our business stakeholders.” – Andrew Langsner, Senior Manager, Embedded Analytics at Jewelers Mutual.
Since working with the H2O.ai platforms, the company has been able to build unique models and recalibrate its rating systems based on the additional customer data generated, making its insurance rates more competitive. In addition to its underwriting, customer experience and claims use cases, the company is also applying analytics to identify ways to improve security, particularly for commercial customers. For example, during recent California wildfires and power outages, the team was able to identify customers that would need additional physical security personnel to protect their inventory. These critical use cases have streamlined the data science process and helped the team save valuable time and resources.
“Jewelers Mutual is using H2O Driverless AI to automatically build machine learning models for predicting customer lifetime value and prevent high severity losses and suspicious claims, amongst other high value use cases. Jewelers Mutual is the leader in jewelry and insurance, has been using data and predictive analytics to improve its customer experiences and is not new to AutoML. H2O Driverless AI provides an easy on-ramp to operationalize and explain its machine learning models, increasing the productivity of its data science teams. We are thrilled to be its team’s chosen trusted partner in the AI transformation journey and hope to make them an AI company, further establishing their technological leadership in the space.” – Sri Ambati, Founder and CEO of H2O.ai.