Earnix, a global leader in intelligent decisioning SaaS solutions for regulated industries, has unveiled its new generative AI-powered Copilot designed to optimise how companies approach pricing and underwriting.
Known as Alix, the Earnix Copilot aims to enhance decision-making within the Earnix platform, boosting productivity and driving exceptional business outcomes for insurance and banking organisations.
The launch comes as a strategic response to the growing need for insurers and banks to optimise their pricing, underwriting, and rating processes while adapting to an evolving macroeconomic landscape.
By embedding generative AI into its platform, Earnix seeks to support firms in improving overall productivity and achieving key performance indicators more efficiently.
Earnix specialises in delivering intelligent, cloud-based solutions designed to enable financial services firms to make faster, smarter decisions.
Its platform leverages advanced analytics and AI to offer dynamic pricing, product personalisation, and real-time risk assessment.
Alix provides a wide range of functionalities, allowing users to prompt the AI for best practice guidance from the Earnix Knowledge Forum.
This includes support on building Generalized Linear Models (GLMs), understanding deployment responsibilities for pricing and underwriting changes, and generating Python code to automate data imports, create what-if scenarios, and develop models. By automating time-intensive tasks, Alix empowers teams to focus on strategic innovation and enhance their product sophistication.
The technology behind Earnix Copilot is powered by Amazon Bedrock, which gives Earnix seamless access to a selection of high-performing foundation models from leading AI companies.
Amazon Bedrock’s serverless architecture ensures compliance with the stringent regulatory requirements of Earnix’s insurance and banking clients while maintaining the highest levels of security.
This architecture allows Earnix to deliver generative AI capabilities without the complexities of infrastructure management, enabling customers to securely and effectively leverage advanced AI-driven insights.
Earnix Chief Product Officer Be’eri Mart said, “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. 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 at Resource Pro, highlighted the industry’s need for tools like Alix, stating, “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.”
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