Lumnion's Insurance Pricing Platform

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Lumnion develops state-of-the-art AI-driven pricing platform for P&C and Health Insurance With the use of Artificial Intelligence and Machine Learning, Lumnion provides a unique Lumnion offers a unique end to end platform that can connect to any core system, automating data preparation with more precise risk pricing, impact analysis, and dynamic pricing. Lumnion’s open platform allows the use of all widely accepted Machine Learning Algorithms, including XG Boost, Random Forest, Decision Tree, as well as GLM and GAM for risk modeling. Moreover, Lumnion has also developed its own methodology to make any black box machine learning algorithms transparent to become operationally usable. The results of any of the ML algorithms are opened up, showing variables to be used, their significance, and interactions with multiple dimensions. The ML based advisory module helps relieve actuaries from operational work and improves model results dramatically providing advice on the portfolio on a real time basis. With its integrated Pricing Engine, Lumnion can push any commercial price decision into the market instantly, allowing for faster time to market given today’s rapidly changing market conditions.