Human behavior is central to all aspects of the Insurance value chain
- Risk selection
- Enhanced LTV
- Real-time personalization
- Claims frequency
- Claims severity
- SIU-referral propensity
- Less expensive data pulls
- Mid-term cancellation
- Best next action
- Cross-sell, up-sell
- Claims outcomes
- Fraudulent behavior
- Litigation propensity
Credit is only a proxy for something much bigger: personality traits like conscientiousness, trust, adventurousness, self-discipline, assertiveness, and many others are exceptional predictors of human behavior, impacting all areas of the Insurance process.
Pinpoint can generate strong ROI-positive results across your company
Some recent client results
>1,000% decile lift on bundling
9-11x lift on Coverage A
Enhanced Risk Selection
+75% Home fire/H2O frequency
+25-50% Auto loss ratio
+19-30% Auto pure premium
700% WC loss ratio lift
Improved Customer Retention
+30-40% lift in Home & Auto mid-term cancellation models
Detect adverse outcomes before they occur
+23% SIU-referral at PoS
+5-10x decile lift on SIU, litigation propensity, and others at FNOL
Pinpoint’s Thinkalike® scores can boost a wide range of behavioral predictive models by an incremental 20-50% and higher across deciles. Why? Because our scores leverage high-dimensional psychological signals, informed by thousands of new data points per person.
After enrichment, easily back-test performance gains before commercial activation, to show the actual impact of the model. If desired, Pinpoint can also onboard existing predictive features to generate ML-powered behavioral models and lift analyses for you.
Our Explainable AI reveals not only the probability of future behaviors, but also the underlying reasons why a given individual is more or less likely to take an action or incur a risk.
Receive Thinkalike® scores for up to 90% of your book, enabling you to boost the predictive power of your existing models — and scale them up for records with thin or no data.
Unlike other data used to predict human behavior, Pinpoint’s neural networks model human individuality – the psychological traits that are the underlying driver of why each person has different perceptions and behaviors. Our engine quantifies each individual’s psychological traits on continuous scales. This process occurs in an entirely data-driven way, without assumptions. Pinpoint models each person in dozens of dimensions; a given individual is like a combination lock with many dials – totally unique. The end result is the first true Segment of One, for each of our 260 million person-based IDs. Pinpoint allows you to integrate this human individuality into predictive models, via interpretable traits, revealing what factors are driving business-critical risk and engagement behaviors.
Using Psychometric AI to predict customer retention:
A CSAA Insurance Group and Pinpoint Predictive case study
CSAA, a AAA Insurer, partnered with Pinpoint Predictive to enrich a large sample of their auto insurance book of business with digital psychometrics. By accounting for the individuality of their insureds, CSAA was able to significantly increase the precision of their policy cancellation model. Pinpoint’s data enabled the identification of 38% more true positives and 17% fewer false negatives, compared with baseline performance. The psychometric data also shed light on the motivations underlying customer defection, opening up opportunities to further increase retention through early personalized interventions.
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Information about Privacy
Pinpoint safeguards the privacy of our clients and their customers:
- Our patent-pending data architecture is the only technology that can generate individual-level psychometric models of digital populations with user pseudonymization.
- Our models are linked only to pseudonymous user IDs; personality data are not linked to actual, personally identifiable real names.
- Client PII is quarantined and deleted after each engagement. Only the client can link enrichment scores back to identifiable customer records.
- Pinpoint is fully GDPR and CCPA compliant, and privacy-safe by design.
- We monitor privacy regulations on an ongoing basis to ensure continued compliance and security.