Pinpoint helped reduce Loss Ratio by 3 points with Claims Severity Predictions Client: National Auto Carrier Line of Business: Auto Insurance Number of Policies: 714,577 Average Premium: $2,495 Challenge for Auto Insurer: A national auto insurance carrier looked to augment their modeling and solve the problem of balancing business against increasing claim payouts, increasing costs…
Pinpoint Predictive CEO, Scott Ham, was interviewed by Andrew Daniels, Co-Founder and President at CrashBay and Founder and Managing Director at InsurTech Ohio. The article discusses the concept of behavioral predictors in the insurance industry, defining them as the day-to-day activities of individuals, such as purchases, engagements, and subscriptions. It emphasizes the potential benefits of using…
Cytora and Pinpoint Predictive Forge Innovative Partnership to Revolutionize SME and Commercial Auto Risk Assessment You can read Cytora’s Announcement here. New York, US; 14th December 2023: Cytora, the leading digital risk processing platform, and Pinpoint Predictive, a cutting-edge insurtech that is fast-tracking loss ratio improvements for P&C insurers, have announced a partnership to transform…
There are significant factors putting pressure on the insurance market. Factors such as high premium prices, social inflation and unpredictable large-scale weather are adding to carrier and customers’ woes. Insurance carriers are under immense pressure to forecast risk with accuracy and grow profitably. To simply stay afloat, many carriers are even leaving states all together…
Artificial Intelligence (AI) capabilities are quickly becoming a must-have core competency for insurers wishing to succeed. Leading insurers are materially enhancing operational capabilities and profitability by partnering with AI Insurtechs. This has helped them improve their loss ratios, risk selection processes and customer experience. But many insurers that want to leverage AI in their businesses are…
A year ago Pinpoint announced that we had sought and achieved SOC 2 Type 2 Certification. We maintain that the only viable option for Pinpoint was Type 2 certification, as opposed to Type 1, as it truly analyzes compliance with well-developed procedures/controls. At the time, Pinpoint CEO Scott Ham remarked “We have always had a…
As we write these words, lawmakers sit in Tallahassee deciding the fate of insurance for Florida Homeowners–and some pretty hefty reforms are on the table. The Situation in Florida The homeowners insurance market in Florida is in crisis due to the outsized number of lawsuits and fraud schemes that have become so prevalent in the…
According to National Association of Insurance Commissioners (NAIC) …while Florida homeowners insurance claims accounted for just over 8% of all homeowners claims opened by U.S. insurers in 2019, homeowners insurance lawsuits in Florida accounted for more than 76% of all litigation against insurers nationwide.” – Insurance Journal 2021 What’s Happening in Florida? The Florida homeowners…
Insurers have a lot to learn from leading tech companies with regards to leveraging applied data and analytics to create actionable, and profitable, insights. We take a look at what is holding insurance back from realizing the benefits of advanced data and analytics. One easy to overcome barrier is finding the right partner; Pinpoint is that partner for a growing number of P&C insurers.
As we’ve all read in many corporate communications articles over the last several weeks, in times of crisis, consumers seek reassurance, compassion, and problem-solving products and services from the companies they trust. While we wouldn’t argue with this simple set of principles, we know that marketers can do better by tailoring their messaging to the…