Premium leakage $ 29 billion opportunity for insurers and AI tools.
Premium leakage is a $ 29 billion opportunity for insurers and AI tools. On average insurers lose around 14 % of GWP due to; unrecognized drivers on policies (e.g. kids, relatives), underestimated mileage, misrepresenting garage locations…
In most of the cases insurers have data needed to capture part of the leakage, but they need tools to consolidate data and point out premium leakage. #Salviol.com #AI
Low hanging fruit: consolidation of geolocations for car policy holders and finding unusual patterns showing "favourite addresses" in town - due to proximity to garage.