Earnix, a leading global provider of AI-based SaaS pricing and rating solutions for financial services, and Exavalu, a prominent global insurance digital advisory and system integration consulting firm, have jointly announced a strategic partnership.
The collaboration aims to equip property and casualty insurance carriers with enhanced operational and analytical flexibility to expedite product pricing and rating innovation.
In the current dynamic insurance market, insurers require modern and adaptable pricing strategies supported by robust pricing analysis. Traditional models are perceived as rigid and outdated, necessitating a shift towards dynamic pricing, rating, underwriting, and product innovation through analytics and AI/machine learning.
Earnix specialises in enabling real-time decision-making through robust analytical modelling and AI capabilities. Through this partnership, carriers will be empowered to swiftly launch personalised products with flexible pricing, guided by pricing analytics and modern rate management processes. The integration of Earnix and Exavalu services will enable carriers to effectively harness pricing analytics and AI/ML models, ensuring maximum flexibility in their pricing strategies.
“As carriers modernise their core, digital and data capabilities, improving pricing analytics, accelerating market data integration and automating rate manufacturing and deployment using a single modern, low-code pricing and rating system become essential for speed to market,” said Saurav Basu, President and Founder, Exavalu Inc. “Exavalu’s deep insurance technology and operational advisory and implementation expertise complement the power and flexibility of the Earnix platform to create a competitive advantage for digital carriers.”
“We are thrilled to combine the decades of experience of Exavalu’s advisory services, technology consulting and system integration teams with Earnix’s technology to meet the most pressing strategic transformational challenges of top tier insurers,” said Ruth Fisk, Head of Business Development at Earnix.
