Optimizing Insurance
with AI and Dataiku

Sales & Marketing

From churn prediction, prevention, and treatment to AI-powered customer acquisition, policy conversion prediction to improved customer service and more, Dataiku is built for every sales and marketing use case across the insurance industry — now and in the future.

For example, a French insurance leader leveraged Dataiku to build a decision support tool for sales to aid their understanding and prioritization of prospects based on whether they are likely to convert and their customer lifetime value. And Aviva’s Customer Data Science Team used Dataiku to build ADA (Algorithmic Decision Agent), a personalization AI, which helps the company be more specific and relevant to its customers, delivering tailored marketing experiences based on their needs.

Claims Forecasting & Processing

Older modeling techniques fail to incorporate the wide variety of data sources needed to produce forecasts precise enough for the modern enterprise, and traditional claims reserve estimates don’t look at the individual characteristics of policyholders, which affects predictability of future claims.

Dataiku powers AI-based systems that use machine learning to take into account many more patterns in data than a human could, including those individual characteristics for better accuracy. And because systems in Dataiku can easily scale with automation, they can predict payments at an individual policy level, not just at the group level.

Underwriting & Pricing

As new risks emerge and risk patterns change quickly, Dataiku makes it easy to both identify patterns in diverse data sources (from imagery to credit bureau data) as well as incorporate new data sources and be quicker and more agile in modeling capabilities. Plus, in today’s increasingly competitive landscape, Dataiku allows insurance companies to implement much more granular pricing strategies, evolving from traditional GLM to more advanced models.

Of course, insurance rating laws mean that AI has the potential to reinforce current underwriting approaches only if developed with a strict white-box approach and with full understanding and traceability of factors and resulting outputs — all of which Dataiku provides.

Fraud Detection & Prevention

Build systems with Dataiku that detect fraudulent activity — whether around false claims, false billings, unnecessary procedures, staged incidents, withholding of information and more — with a higher degree of accuracy. In less than a year, insurance company Santéclair developed
 an unprecedented fraud detection system using Dataiku that allows the company to handle a growing volume of invoices and control costs. By choosing Dataiku, Santéclair was 
able to internalize its data skills and expand the scope by pursuing additional analytics projects.

Cross-Department Process Automation & Optimization

Outside of claims processing, insurance customers use Dataiku to optimize various business processes including policy management as well as reinforcement of risk and finance functions. The bottom line is that data engineering automation with Dataiku saves time and reduces the chance of human error, and giving teams access to modern analytics and models can significantly reinforce the efficiency of their functions.

Environmental, Social, & Governance (ESG)

There’s no “one-size-fits-all” approach when it comes to ESG, but Dataiku allows financial institutions to develop analytics and models specific to certain activities or processes by breaking down silos while at the same time fostering consistency and reuse across business lines. Dataiku helps insurance companies integrate ESG risks into their offers as well as integrate EST into asset liability management.