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Ready to see results from your actuarial investments
As customer behaviors change radically, insurers must move faster. That means adopting new approaches and capabilities to stay ahead of competitors and to attract customers with the right products at the right time. Taking actuarial processes to the next level can help insurers achieve more. Get this eBook to learn about SAS's Dynamic Actuarial Modeling and how it can help enhance your actuarial processes, improve profitability, and boost operational efficiency. Pinnacle Solutions, Inc. can help you get started. Contact us.
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AI can enhance actuarial processes by introducing new algorithms that support competitive premiums, utilizing a real-time pricing engine for faster premium deployment, and integrating predictive analytics with existing systems. These advancements can lead to significant improvements, such as a 95% reduction in time to deploy new insurance rates and a 50% decrease in the cost of premium modeling.
What benefits can insurers expect from SAS Dynamic Actuarial Modeling?
Insurers using SAS Dynamic Actuarial Modeling have reported various benefits, including a 15% reduction in data quality issues, a 20% decrease in time needed to integrate external data sources, and a 75% reduction in deployment costs. Additionally, they experience improved operational efficiency and scalability, enabling them to respond more swiftly to market changes.
What challenges do insurers face in the current market?
Insurers face several challenges, including the need to adapt quickly to market changes, improve pricing models to remain competitive, and enhance operational efficiency. They must also manage increased competition driven by online price comparisons and changing customer attitudes towards loyalty, which can impact policy retention.
Ready to see results from your actuarial investments
published by Pinnacle Solutions, Inc.
As the amount of data continues to grow rapidly within organizations, figuring out what to do with large data volumes can become a struggle – even a nightmare. We help people face the challenge of converting data into structured information that supports effective decision-making. We combine SAS’ analytical system with our own industry and statistical analysis expertise in order to present a complete solution offering for our clients. As an Amazon Web Services Partner, we also can host and manage our customer’s solutions in the cloud.
At Pinnacle Solutions, Inc. (PSI), our mission is to empower clients to analyze and interpret the “mountain of data” that they collect and utilize to improve business outcomes, support decision-making, and enable process improvements – from data management and integration to data visualizations and predictive analytics. Learn more about our people, partners, and history by exploring the links below.
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