An international insurance group wants to offer an online-compatible building insurance tariff. In order to optimise the application process, as few risk questions as possible should be asked. To ensure that the risks can still be assessed correctly, the risk questions are to be replaced by data from external providers.
About 1,300 characteristics from external providers are assessed. From these, targeted candidates are selected to replace the risk questions. With the help of a substitution algorithm, each risk question is checked and, if necessary, substituted by external data. The close cooperation with the actuaries ensures a professionally sensible pricing.
78 % of the previous risk questions can be preassigned, replaced or omitted with the same forecast quality. New external data can be checked and integrated by the actuaries themselves at any time.
Are you interested in your own use cases?
Our Case Studies
- Get even more detailed insights into our customer projects -
Smart cooking with the Thermomix
Data Operations at Munich Re
Data & AI Knowledge
Creating added value from data & AI together