BrightWrite is a data analytics and experimentation framework designed to optimize insurance distribution by tailoring products to individual customer behavior and preferences. It integrates into platforms like XCover and RentalCover, focusing on maximizing total transaction value through real-time data analysis and machine learning techniques.

Key Features

Data Analytics

• Utilizes real-time and historical data to optimize insurance offerings.
• Integrates with APIs to collect and analyze customer data.

Experimentation Framework

• Uses Bayesian machine learning to identify successful experiments quickly.
• Allows partners to design and deploy experiments.

Dynamic Pricing

• Incorporates machine learning to set optimal prices based on customer behavior, price elasticity, and market demand.

Personalized Recommendations

• Employs human optimization strategies and neural networks to suggest relevant insurance products.
• Uses reinforcement learning for model testing.

Benefits

Increased Revenue

• Offers tailored customer experiences, leading to higher conversions and increased ancillary revenue.
• Delivers optimization benefits exceeding 20% annually.

Enhanced Customer Experience

• Provides consistent pricing to reduce customer frustration.
• Uses micro-targeting for a hyper-focused approach.