Case Study: Aioi Nissay Dowa Europe reduces large loss claims with Mind Foundry

Predicting and Preventing Large Loss with Aioi Nissay Dowa Europe

The customer, Aioi Nissay Dowa Europe (AND-E), faced the complex challenge of identifying and preventing large, infrequent losses within its insurance portfolio. To address this, they partnered with the vendor Mind Foundry, which developed a unique machine learning solution to meet their specific requirements that off-the-shelf products could not. This solution was designed to enhance early identification methods to reduce substantial financial impacts.

Mind Foundry built a solution that combined diverse data sources, including driving behavior and geospatial data, into a machine learning model to predict accidents on specific routes. The result was the successful identification of the top 5% of riskiest drivers, who were responsible for 50% of large losses. This empowered AND-E to run targeted preventative campaigns, leading to an estimated annual savings of over £2,000,000 in claims costs and a significant enhancement to driver safety.

Aioi Nissay Dowa Europe

Greg Cole

UK Claims Director