Insurance customer profiling

Customer Profiling in the Insurance industry

The insurance industry is one of the first industries in history to use forecasting on a large scale and as a core component of its business: it has developed an unmatched expertise to analyse data to accurately predict risks and therefore to set the right pricing for its entire product portfolio.
Nevertheless, increased regulation and digitisation are putting pressure on the industry to accelerate business efficiencies and remain competitive.  Huge amounts of data are now available to the industry; this can be overwhelming for companies that are unprepared, whereas if used wisely it can present an opportunity for making more informed business decisions based on more accurate predictions.

Companies can prepare themselves for these  challenges through the use of new solutions such as automatic Machine Learning, which can be easily integrated into existing processes to improve a company’s predictive analytics.



Most common applications of automatic Machine Learning

There are multiple ways in which Machine Learning can improve the insurance industry’s predictive analytics.

Fraud Investigation

Fraudulent claims cost insurance companies billions of dollars annually. As the number of claims grows year-on-year, the teams dealing with these claims become overwhelmed, leaving the door open to fraudulent claims. The worst thing about fraudsters is that they have plenty of time and imagination to adapt quickly to anti-fraud measures.

The good thing is that they are highly predictable, once we look at all the available data. The key issue here is to swiftly analyse all the claims, and to include all available data sources, in order to guide the team to the relevant ones.

With, the fraud expert can inject as many data sources as she/he wishes and in just a few clicks obtain a “profile” of the fraudster. She/he can then request “lookalikes” among the entire claim base. will rank claims according to their propensity to be fraudulent.


Insurance marketing & fraud profiling
Before, using SAS, it took me one week to get a score. Today with, within a few hours the work is done, with a clear, accurate and directly exploitable result.
— Régis Deslandes, CDO Asurone
customer profil

Marketing and sales efficiencies through Predictive Analytics

Profile your customers and find lookalikes!

Insurance companies typically have large customer bases, prone to be contacted by competitors and often unwilling to receive offers that are not relevant for them.
This can lead to high levels of churn and/or customer fatigue.

These challenges are key concerns of Sales & Marketing departments who are constantly seeking to limit negative impact to the bottom line through the avoidance of churn and by maintaining customer satisfaction through targeted campaigns. enables you to profile your customers according to your Sales & Marketing requests, for instance:
What are the early signs of churn or product acceptance?
Who among my customers are the most likely to buy this upsell package? analyses all data sources and provides you with a clear answer. Insurance companies are already well placed to face their challenges because they have a deep understanding of their data. And with Automatic Machine Learning, they can now make significant inroads into decreasing fraud and improving sales & marketing initiatives.