P&C insurer Bankers Insurance Group has announced the adoption of Millman Inc.’s Pixel business intelligence technology.
The web-based platform gives marketing executives and product managers a snapshot of what competitor’s prices are in state markets. It uses uses advanced data visualization and machine learning techniques, allowing users to filter markets by geography and type of risk. Results are then put into user-friendly datasets, charts and maps, which are able to integrate with other software.
"Our product managers are already reaping the benefits of this tool," said Judy Copechal, president of Insurance at Bankers Insurance Group. “It provides valuable insight to the market that allows us to target areas to grow our business where our rates are positioned well in the market while maintaining profitability."
Pixel originally launched last May and is available to only Florida insurers for the time being. The platform will soon be available in other states, according to the company.
