Earnix, a global provider of AI-based SaaS pricing and rating solutions for financial services, has announced the launch of the Earnix Copilot, “Alix”, created to enhance productivity and performance with artificial intelligence.
“This generative AI-driven agent is designed to supercharge decision-making within the Earnix platform, driving exceptional business outcomes and unmatched productivity for insurance and banking organisations,” Earnix explained.
With the Earnix Copilot, users an leverage Alix to access best practices from the Earnix Knowledge Forum on building Generalized Linear Models (GLMs), understand the roles and responsibilities involved in deploying pricing and underwriting changes, and generate Python code to automate data import, create what-if scenarios, and build models.
Alix empowers teams to focus on strategic decisions, driving innovation and sophistication in their products.
“Earnix has always been at the forefront of enabling the insurance and banking/lending industries to leverage AI in predictive modeling, and we are thrilled to now be expanding into providing GenAI to enhance underwriting, pricing, and rating processes,” said Be’eri Mart, Chief Product Officer at Earnix.
He continued: “The addition of GenAI to the Earnix platform signifies a pivotal advancement, enabling insurance and lending professionals to boost productivity and exceed KPI goals by responding rapidly to market dynamics.
“At Earnix, we champion human-centric AI that enhances employee capabilities, ensuring technology acts as a complement to, rather than a replacement for, human insight.”
Meredith Barnes-Cook, Partner, Resource Pro, stated: “The industry continues to grapple with a changing macroeconomic landscape, as well as improving overall productivity.
“Insurers and MGAs need generative AI tools like Earnix Copilot to provide both automated process support and decision support, to onboard the next generation of employees faster, and transform the speed and precision with which products are developed, prices are updated, and underwriting appetite is modified.”
Earnix uses Amazon Bedrock to enable its Earnix Copilot technology, allowing it to have easy access to a choice of high-performing foundation models from a number of AI companies.
Amazon Bedrock provides the benefit of maintaining existing compliance structures, which is crucial for the highly regulated industries Earnix supports who rely on the highest degree of security.
Its serverless architecture also simplifies the integration of generative AI, eliminating infrastructure management burdens and enabling Earnix customers to securely and efficiently utilise advanced features.
