ABACUS INSURANCE COMPANY MANUAL

IBM Watson Studio enables companies to build, run, and manage AI models on any cloud through an automated end-to-end AI lifecycle – simplifying experimentation and deployment, speeding up data exploration and preparation, and improving model development and training. It allows businesses to scale trustworthy AI and optimize decisions. To infuse AI in their solution, Ablera used IBM Watson Studio, a leading data science and machine learning solution that helps enterprises accelerate AI-powered digital transformation. Yet another key advancement that the customer receives through ABACUS is an increased net profit, 60% less actuarial effort and 100% less IT effort for Rating setup and configuration. Another key benefit is the superior personalization due to the increased number of risk segments, as well as the reduced time for completion of both pricing and rating processes, from 3 months to 5 days.

ABACUS INSURANCE COMPANY MANUAL

It brings next-level speed and accuracy to these processes, minimizing the error-prone, cumbersome manual efforts and allowing a wider range of users to work with the sophistication of applied mathematics.īy adding advanced ML algorithms to the commonly used generalized linear models (GLM), ABACUS allows the use of a wider range of risk factors. Ablera, a Bulgarian insurtech company, partnered up with IBM and ALSO Bulgaria, an IBM Value Add Distributor, to enhance ABACUS, a solution for insurance companies powered by artificial intelligence.ĪBACUS is a powerful machine learning-based (ML) solution that leverages IBM Watson Studio to bring game-changing technological innovations in redefining and optimizing insurance companies’ pricing and rating processes, highly adaptive to any legacy system and easy to integrate with any external one.

Abacus insurance company