Robin Gilthorpe, CEO of Earnix Photographer: Eli Dasa
The fintech company Earnix, which specializes in developing AI technologies for pricing and personalization in the insurance and banking industries, announced today (Monday) that it has won an international award. The company was recognized for the Best AI Solution in the insurance industry by AI Breakthrough, a market research firm that specializes in ranking companies, technologies, and products in the AI field. This year, the competition received 5,000 submissions from 20 countries.
Additionally, Earnix was listed among the top 100 companies in the AI solutions sector for financial services (AIFintech100) by Fintech Global.
AI Breakthrough awarded Earnix’s Model Accelerator solution the prestigious prize due to its unique AI capabilities, which assist the world’s leading insurance companies, including those in Israel. The solution enables insurance companies to build AI models using a “do-it-yourself” approach, balancing risk and price in new offerings brought to market. In addition to its pricing module (Price-It), the Model Accelerator allows any insurance company to implement and utilize any model it has developed in pricing, underwriting, and rating activities that determine policy premiums.
“Effectively leveraging data helps our customers stay ahead of the pack while staying on-target in their risk-selection preferences. Model Accelerator was custom-built to help insurers overcome the complex manual processes required for creating models,” said Earnix CEO Robin Gilthorpe. “We will continue to enhance Model Accelerator to significantly reduce the complexity around interoperability of models and help insurers effectively reap the benefits of sophisticated modeling.”
Gilthorpe added, “To make the AIFinTech100 list is a testament to the hard work and dedication of our talented team across the world, and the progression we’ve made as a business. We are proud to be recognized as one of the leading companies in FinTech and look forward to continuing to meet the growing demands of the world’s leading financial services companies with our solutions.”
“Model Accelerator empowers insurers to take sophisticated modeling to the next level. Insurance leaders recognize the potential of AI but have been slow to adopt due to difficulty importing external models, the manual processes required to build them as well as the lack of flexibility in machine learning model development due to software and time constraints,” said Steve Johansson, Managing Director, AI Breakthrough. “Model Accelerator was purpose-built to address these challenges. Insurers can future-proof their business regardless of regulatory changes, with the agility to pivot easily with market changes.
