The process of rating and pricing risks have evolved from essentially cost-based models to more sophisticated algorithms leveraging various parameters. Today, machine learning, new sources of data, and pricing optimization techniques allow insurers to differentiate their tariffs and be more reactive to market changes.
In a highly competitive market, Bulstrad decided to enhance its rating strategy and process. Through its machine learning pricing and rating engines initiatives, the company has become more efficient and more responsive to market changes. Bulstrad now provides online rating capabilities to agents and underwriters and increasingly to policyholders, leveraging algorithms trained on abundant data, allowing for motor insurance portfolio optimization and quick response to competitor product strategies and dynamic market conditions.
For over 20 years, Celent has helped senior executives make confident decisions around their technology strategies to execute at scale.
As the financial services industry rapidly evolves, there is more complexity, with new regulations, startups, technologies, and applications to stay on top of and prioritize. Celent helps you connect this ever-changing puzzle. We offer objective advice and clarity, backed by a database of thousands of solutions and award-winning global best practice use cases. With real-life domain expertise, we also guide you through the maze of emerging tech in the pursuit of value.
Our people, data, insights, and relationships form the foundation for you to use Celent to make confident technology decisions in financial services.
