Description
Insurers use AI to calculate personalised risk-based premiums at individual customer level — incorporating telematics, behavioural, and environmental data beyond traditional actuarial factors.
Benefits & ROI
Insurance companies on Google Cloud use Vertex AI for personalised premium calculation. Insurers report meaningful improvement in loss ratios from more accurate personalised risk pricing.
Technology & data
Vertex AI; BigQuery; telematics data; behavioural data; actuarial model integration; pricing engine.