Using AI to Predict & Analyze Churn, Risk, Fraud & Claims

At Xyonix, we design custom AI models that make accurate predictions about your clients to drive better business results.

The insurance industry has always been driven by data and analytics, but now the industry is in the early stages of a massive artificial intelligence led transformation. Rapidly maturing machine learning and artificial intelligence technologies are allowing insurance providers to reach new levels of business efficiencies to produce better business outcomes.  

Does your company automatically predict which customers are going to churn? Are you still leveraging manually heavy actuarial methods for policy pricing? Or do you leverage modern AI models that can be much more precise in predicting plan outcomes? Is every claim of yours automatically analyzed and flagged if fraudulent? Is your lead generation system using AI to score the leads and elevate leads likely to convert to a high valued customer? Are all your claims calls automatically transcribed and made available for easy search with common suspect patterns elevated? Are claims assessed for uncertainty automatically? If you answered no to any of these questions, your business might be significantly underutilizing artificial intelligence.

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Customer Behavior Analyzer

Customer Behavior Analyzer

We worked very closely with executives of a major dental insurance company to help better understand their customers. We used historic data to predict future customer behavior and purchase selections. Our models predict which customers are likely to lapse, and which are likely to remain loyal. Our models are also explainable, so it is easier to understand which attributes of a customer are indicative of loyalty or lapse tendencies. In addition to understanding high level customer characterizations, our explainable models describe why a specific customer is predicted to be a lapser or loyalist.

Companies who successfully explore and embrace these new technologies can discover significant competitive advantages. At Xyonix, we develop bespoke machine learning solutions for clients in the insurance industry.  We take your claims, call records, and other data and produce insights that drive better business results. 

Interested in using AI to accelerate your insurance application? Contact us and let’s dig in together.

 
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Sherri Engvall

“Xyonix’s most impressive characteristic is their passion for helping us solve our problems. They truly believe in what we’re trying to achieve — they’re excited about it. Their members see the value of our work and understand our vision.”

Sherri Engvall, IT Manager @ Delta Dental of Washington [more]