CDL has developed a machine learning application that can predict whether a customer is likely to buy a product at a particular price.
The algorithm integrates with the company’s Strata solution and real time pricing (RTP) and the software house said it is now available to brokers.
The service was created using historic customer data including on no claims bonus, age and marital status.
According to CDL the aim is to personalise the product to the individual customer. It can also predict
- David Ross accused of “not caring” about acting lawfully
- Aston Lark buys Highworth Insurance
- Zurich temporarily pulls out of direct home
- Allianz hires Gerry Ross as head of commercial motor
- Marsh-owner gains approval to buy Jardine Lloyd Thompson
- Arch Insurance International invests in MGA
- First Central Insurance & Technology takes CEO from Hastings