TICKER
“ We have two products live today , for novice and van drivers . In just over two years , we ’ ve managed to get to a US $ 65M GWP run-rate with these two products ”
RICHARD KING FOUNDER AND CEO , TICKER
we have to have the highest levels of pricing sophistication . As an insurer , if you ’ re not already implementing ML and AI , or at the least have it on your radar , then the competition is going to accelerate ahead of you .”
Can you tell us more about price optimisation and the use of AI and machine learning ? “ Insurtechs like Ticker maximise their competitive advantage and market share
through sophisticated pricing techniques and price optimisation – being even more accurate in pricing customers on an individual basis .
“ Throw connected car data into the mix and you can employ machine learning tools , which we use to identify patterns in driving behaviour and tell us when someone ’ s had a crash . In its simplest form , machine learning is looking at data to identify patterns , but on a larger and finer-grained scale than a human can achieve .
“ ML can only be introduced when you have vast amounts of data , but the holy grail is AI . ML is just a clever subset of that and can help inform AI . The more data we get , the more complex and sophisticated we can make the algorithms . That said , simpler algorithms can still be very effective when you have this quantity of data and shouldn ’ t be underestimated .
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