Commercial insurers forecast future claims to hold sufficient capital in reserve, and steer business planning away from losses towards profit.
Today, low forecasting accuracy and manual process means management receive blunt decision analytics, too late to take corrective action.
Augmize automates reserving to deliver timely decision analytics to management. We use interpretable machine learning to outperform current methods, meeting strict demands for model explainability.
We are trialling Augmize with an international insurer, over US$1B of claims data, and are in negotiations for two paid contracts.