MCE launches bespoke AI tool
According to the broker, the company saw 32% growth in average premium due to its investment in tech, which has now been enhanced with the roll out of a new AI tool.
MCE Insurance has announced the development and roll out of a bespoke artificial intelligence tool.
The broker explained that the new AI tool has the capability to analyse and manage pricing and underwriting. It added that these features would enable real time analysis of performance at a product, scheme and individual demographic level, which in turn would improve the process of pricing.
The development follows MCE’s pledge to move to full AI underwriting in February 2021, which marked the
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