Technology-led company Azur is transforming the insurance industry by creating an augmented underwriting solution that enables real-time pricing and risk management. By integrating the Explainable AI (XAI) platform with its legacy systems, the company is helping brokers gain deeper insights into prospective clients. Using the XAI platform, Azur users can harness machine learning to rate the likelihood of conversion and propensity to claim as soon as a client requests a quote. Introducing data-driven decision making will help to remove cognitive bias, freeing underwriters to focus on more complex risks and broker relationships, and helping to tailor policies to individual risks for greater profitability.
“Augmented underwriting gives firms the opportunity to make better decisions by comparing both assumptions and explanations. It was fantastic to work with Temenos to achieve this vision.”
Lara Korz, Chief Data Officer