Revolutionize Your Auto
Insurance Underwriting Process
with the Power of Machine Learning
How Can Underwriters Achieve Exponentially Better Results?
Soteris has harnessed the power of machine learning and focused it on a single point of failure in the typical auto insurance risk selection process to deliver exponentially better results than would otherwise ever be possible.
With our SaaS platform, you can turn on all segments and accurately select and quote only the adequately rated risks on an individual policy basis at point of sale.
With Soteris, you can finally grow your business while also driving down your loss ratio.
Why is Soteris a Game Changer for Auto Insurance Underwriting?
With Soteris, your processes are driven by policy-level intelligence that is significantly more precise than predictions informed by third-party data collection.
Until now, insurers have turned off entire segments of their book in the quest for better profitability.
Unfortunately, that approach eliminates both inadequately-rated and adequately-rated risks within the segment, greatly reducing premium volume. With Soteris, you can leave all segments on, and precisely and efficiently select policies in less than one second.
Up to two thirds of the policies in
poorly-performing segments are actually
good risks.
It’s Time to Modernize Outdated Underwriting Processes
Over the past decade, the risk landscape has changed. Ten years of poor underwriting profitability are delivering
a loud wake-up call – old risk selection methods aren’t working.
To achieve different results, auto insurers must deploy new strategies. Soteris offers a proven solution.
- Access the dedicated data science and machine learning resources that only large insurers could afford in the past.
- Generate ratemaking data based on your own book’s loss experience.
- Predictively score each policy in less than one second, at the rate call of your choice, or at multiple rate calls.
- Quote only adequately-rated risks, driving down the loss ratio of your existing book, with all segments turned on.
- Use Soteris intelligence to precisely adjust rates and identify “sweet spots” to more effectively capture future market share.
Seize the Opportunity to Dramatically Improve Profitability
The Soteris machine learning underwriting solution can be
implemented in just four months, alongside your existing systems,
and with your existing rate filings.
Our SaaS model is accessible and affordable for insurers of all sizes.
4 MONTHS
Typical implementation timeframe
Recent Articles
Auto Insurance Growth Opportunity #5: Accept Business from All Distribution Channels
Insurance carriers depend on agencies and distribution partners for new business, but if an agency is associated with a high loss ratio, the relationship may
Auto Insurance Growth Opportunity #4: Turn On All Driver Classifications
Many insurers turn off certain driver class segments. While this practice was effective in the past, it may limit future growth. With machine learning, the
Auto Insurance Growth Opportunity #3: Write All Makes and Models
Some insurers think of red sports cars as claims waiting to happen. In some cases they turn off red sports car segments, as well as
