Case Study: a major insurance company boosts online insurance profitability with Zoral

Major Insurance Company - Customer Case Study

The client, a major insurance company, sought to improve key performance indicators across its online auto insurance business, including profitability, conversion rates, and risk prediction for cancellations and defaults. To achieve this, they partnered with Zoral, leveraging its decision engine (ZDE), model library (ZML), and analytical data workbench (ADW) to gain deeper insights from new digital and behavioral data sources.

Zoral implemented its advanced AI/ML tools to build an integrated analytical data warehouse and deploy tuned predictive models. This solution provided real-time, intelligent inputs for the client's pricing engine at the point of quote. The results were significant, including a 10.2% increase in overall profitability, a 47.1% increase in conversion, and substantial improvements in predicting renewals (20.4%), cancellations (11.8%), and defaults (13.9%).