Earnix debuts Integrated Machine Learning technology to improve real-time production environments

Earnix Ltd, provider of predictive analytics solutions for financial services industry, introduced on Thursday its Integrated Machine Learning technology, as an enhancement to the existing insurance software suite. This capability is designed for demanding, high-performance real-time enterprise production systems, and will deliver a new level of market responsiveness and analytical sophistication to insurers.

Several Earnix insurance clients have been using an early version of the technology and have seen significant improvements in their results.

Earnix’s Integrated Machine Learning technology is designed for insurers at all levels of analytical maturity, who want real-time market responsiveness. From companies that are novices and need assistance in creating machine learning models, to expert users who can import proprietary algorithms that they have built, Earnix empowers all insurance providers to operationalise machine learning with a new level of predictive insights.

Integrated Machine Learning technology is able to combine traditional statistical modeling (for example General Linear Modeling or GLM), with cutting-edge machine learning techniques such as Random Forest and Gradient Boosting Machine. These hybrid models enhance trusted analytics that currently run business with the added power and capabilities of machine learning.

Analytics has become an arms race, as insurers around the globe seek to become more data-driven by operationalising real-time analytics and monetising new forms of data such as telematics and the Internet of Things (IoT). The addition of Integrated Machine Learning to the Earnix software suite enables users to excel in this environment, producing better and more accurate insights at speeds that only machine learning algorithms can produce.

“We are providing financial institutions with the tools needed to more effectively compete in today’s data-driven real-time environment,” said Earnix CEO Udi Ziv. “Our new Integrated Machine Learning technology enables clients to rapidly move machine learning from the data scientist’s lab into operational processes. Clients who have been using the software are seeing measurable bottom line results.”

Earnix has been deploying early versions of its Integrated Machine Learning technology over the past 18 months with key insurer clients, who have realized significant benefits. The impressive gains include deciphering competitive price movements, especially important in the real-time marketplace environment of insurance aggregator sites; developing highly personalised “next best offers”, which have resulted in significantly higher rates of purchase; and analyzing enormous volumes of telematics, IoT, and other emerging forms of data, which would not be possible without the speed of machine learning.


IoT Innovator Newsletter

Get the latest updates and industry news in your inbox! Enter your email address and name below to be the first to know.

Name