Propensity Lens is the technology that helps insurers improve their competitive advantage in the commercial insurance industry.

Broker Insights seeks to expedite the insurer's process and raise the likelihood of successful business conversions by utilizing aggregated data and AI-enabled learning.

Broker Insights specializes in enabling the commercial insurance sector with cutting-edge solutions that make use of artificial intelligence and data analytics. Broker Insights is a key player in changing the insurance market with an emphasis on increasing revenue and efficiency.

The VisionTM Decision Intelligence product from Broker Insights, which has won several awards, now includes Propensity Lens. It makes use of information from a sizable segment of the business insurance industry in the UK to forecast the possibility of policy transfers between insurers.

Propensity Lens helps insurers to identify business prospects that have a high conversion rate by providing case-level information.

By improving quote rates and decreasing decline rates for insurers, the service increases efficiency in the underwriting and sales processes. The solution improves insurer-broker connections and boosts revenue development for both parties by offering customized business options based on win possibility.

"This product is the first of many envisioned AI-enabled products for our broker and insurer partners," said Fraser Edmond, CEO of Broker Insights. Both parties spend a great deal of time and effort due to the low conversion rates and typical insurer no-quote rates of up to 80%. It is revolutionary to provide insurers a customized pipeline of business possibilities depending on their chances of securing this new business. By utilizing Decision Intelligence, we enable insurers to increase revenue growth by streamlining their processes and improving sales effectiveness.

Head of Data at Broker Insights Andy Whiteley continued, saying, "Our model for insurers is extremely agile." Our machine learning capabilities include procedures that are readily and fast modifiable. This allows us to add and update new variables to the process in order to maintain it current with market trends and insurer appetite. It is an ongoing evaluation cycle that improves results and strengthens relationships between brokers and insurers.