Anonymous and accurate synthetic data for insurance industry

Synthetic data for insurance

Optimize market selection, underwriting, pricing, claims management, AI performance and increase the lifetime value of your customers with synthetic data!

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Improvement in AI performance
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Synthetic home addresses

Why do insurance companies need synthetic data?

Insurance companies have always been among the most data-savvy innovators. No wonder, since the ability to calculate risk accurately makes or breaks an insurance provider. Looking ahead, companies need to adopt sophisticated AI and analytics across their operations while staying compliant with regulations and protecting their customers data. 

How can synthetic data help insurance companies?

Synthetic data is a game-changer in all things data-driven. Synthetic data can improve the performance of your pricing and fraud detection models, improve accuracy and fairness is AI models and unlock data assets hidden by privacy regulations. Realistic synthetic test data can help you serve customers, brokers and advisors with great applications, tested to perfection with synthetic user stories identical to those in production.

SYNTHETIC DATA Use cases IN INSURANCE

 

Improve AI model performance by 2-15%

Your fraud detection models only perform their best when they are trained on the right data. Synthetic data helps to create balanced versions of your production data that provide more granularity and depth and that make it easier for fraud detection algorithms to pick up patterns. 

More about the fraud detection use case

 

Improve the ROI of your insurance products

Software solutions only come to life when running on great data. Many external vendors rely on your data to deliver their services. Provide vendors ready-to-share, privacy-compliant synthetic data sandboxes to test different vendor solutions in a privacy-safe way.

More about the rapid POC use case

 

Realistic test data at your fingertips 

Create highly realistic synthetic test data to mirror your production data for safe, smart and cost-effective test data provisioning. Great applications begin with great data and dummy data generators will never provide you with the rich insights synthetic test data will. 

More about the test data use case

What's your use case? Find out how synthetic data can empower your organization!