SAN MATEO, Calif.--(BUSINESS WIRE)--Pinpoint Predictive, the California-based company that provides the insurance industry’s first deep-learning-powered actuarial Loss Predictions, and Glacier Insurance Company are pleased to announce a new partnership. Glacier will leverage Pinpoint’s top-of-funnel predictions, enabling the insurer to streamline better experiences for incoming customers.
This partnership positions Glacier well with respect to the key recommendation of a December 6th AM Best special report. Considering that, “throughout the first nine months of 2022, personal auto liability and physical damage loss ratios deteriorated,” AM Best advised that insurers leverage innovative technologies to reach their profitability targets. This partnership enables Glacier to make more accurate, earlier, and faster loss predictions than previously possible. In addition, Pinpoint allows Glacier’s agents to streamline their service, providing greater convenience for the great majority of new customers, while focusing additional attention on the small percentage of individuals that would otherwise have an outsized impact on the policyholder group.
“Glacier is an excellent example of a forward-thinking insurer that has taken key steps to address the continued pressures facing P&C insurers,” said Scott Ham, CEO of Pinpoint. “We are excited to be part of their growth journey and to provide them with a significant competitive advantage in risk selection. Having the industry’s most accurate and earliest loss predictions is a game changer. Glacier recognizes that rapid growth with profitability can indeed be attained simultaneously, without having to sacrifice one for the other.”
Pinpoint’s clients are solving profitability challenges with the earliest, and most accurate loss and risk predictions. Pinpoint allows insurers to know, even before an application is submitted if a customer will fit into their risk and profitability tolerances – closing the gap between the best behavioral predictions in the world and the current state of the insurance industry, all while maintaining the highest standards in privacy safeguards and regulatory compliance.
“Pinpoint’s actuarial loss predictions will enable us to orchestrate the best experiences for agents and our customers, reducing friction and creating the ability to micro-segment leads like never before,” said Greg Godshall, CEO of Glacier Auto Insurance. “Glacier is growing, and this partnership gives us a competitive edge to achieve high growth, profitability, and solid financial health.”
About Glacier Auto Insurance
Glacier Insurance Company has been insuring drivers for the past 50 years. We provide personal auto insurance with no credit checks to drivers in Pennsylvania, Delaware, Ohio, and Indiana. Here at Glacier, our core values have stood the test of time. We’re here to provide you with a hassle-free quick and easy quote, affordable insurance coverage, low down payments, flexible installment options, prompt claims assistance, and reliable service with ease of mind…getting you on the road to reaching your destinations.
About Pinpoint Predictive
Pinpoint Predictive provides Property and Casualty insurance with unmatched risk selection at the beginning of the customer journey. Pinpoint’s deep-learning-powered platform has revealed $100s of millions in bottom-line value for insurers by identifying unpriceable risks in individual loss cost, litigation, SIU referral, cancellation, and premium leakage earlier and more accurately than previously possible. Pinpoint provides the largest and fastest improvements to loss ratios in the P&C ecosystem, generating immediately deployable predictions within a week.