Type of System
- Data management
- Governance, risk, compliance
- Internal/external reporting
- Portfolio analysis/hedging
- Customer analysis
- Data Science with 3 machine learning methods (CART, RF, XG Boost)
Type of Platform
Most recent significant updates:
The latest version of addactis® Pricing embeds a Data Science module which allows user to estimate the tariff based on several machine learning methods (CART, Random Forrest and Gradient Boosting). The results obtained can be easily compare to those obtained by traditional GLM.
Planned future enhancements:
- Enhancement of the Data Science Module
- Integration of machine learning algorithms in the Behavior module
- Planning module (portfolio projection and business indicators comparison)
Integration with third-party or in-house systems?
It can be linked to Microsoft Excel for im- and export. Additionally it can read data from other systems such as SAS.
Implementation and Costs
Typical implementation costs:
Depends on the chosen pricing modules and number of licences requested. Annual licences start from €15,000.
How long does your software take to implement on site?
This depends on the project's scope and complexity. Usually implementation takes less than one week.
Key attributes of product:
With addactis® Pricing, actuaries have the entire pricing process embedded in one powerful and user-friendly application: data preparation, calculation based on a powerful GLM engine but also on machine learning algorithms, customer behavior study, price simulation to find the best tariff as well as reporting. The tool provides users with a full audit trail.
As a result, pricing actuaries can invest their time on analysis and decision making rather than on data handling and manipulations. A lot of time can therefore be saved, which is very precious in a market where tariffs are changing on a daily basis.
Please name companies that use the system/solution:
Assurance Mutuelle des Motard, CA Seguros, Coomeva, Maif, Pacific Insurance, Progressive Insurance, Sogessur, Thelem, SMACL, MGS, Asisa, China Taiping, Wafa Insurance, Colsanitas, HDI