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Experience Analysis

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Lapse Analysis

Our product is dedicated for actuaries responsible for persistency assumptions setting. It delivers more accurate estimates of the expected number of lapses and drastically speeds up this process when compared to standard methods:

  • Data Preprocessing – automatically and efficiently handles missing or erroneous data inherent to policy system extracts.
  • Accurate Models – neural network architectures and newest survival analysis algorithms ensure the highest possible quality of lapse rate predictions.
  • Assumption Setting – produces clear visualisations of AvE and exposure, allowing for comparison with standard methods, which leads to facilitated, accelerated and more accurate assumption setting.
  • Model Deployment & Monitoring – the best model can be deployed and reused for pricing and product modelling purposes, REST API backend allows integration with external software providers.

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AI-Driven Experience analysis

Estimating lapse rates is a crucial process in any insurance company. It influences all major calculations done by actuaries, from pricing to establishing capital requirements. Traditional estimates suffer from year-to-year volatility of persistency assumptions and large amounts of expert judgments.

ActuAI employs novel machine learning algorithms and recent developments in survival analysis to provide the most reliable predictions of lapse rates. All this presented on plots familiar to experience analysis practitioners, offering comparison with the standard methods. More accurate models deliver greater financial sanity, XAI aids in explaining them to the regulators and easy deployment allows seamless integration with existing workflows.

Reusable analyses

Despite being directed at actuaries, the lapse module of ActuAI can serve other processes as well. Marketing, sales and product departments rely on churn information heavily, but rarely exchange ideas. A unified model developed by the most skilled analysts from all these departments can deliver added value. Fairer persistency assumptions, personalised marketing campaigns and data-driven product redesign are the keys to long-term success.

More details?Download Booklet

Simplified Lapse Analysis
with ActuAI Platform

Use ActuAI cloud-based platform to automate lapse prediction and experience analysis from weeks to hours thanks to simplified workflow, direct deployment and intuitive reports.