Customer Risk Profiling
Risk assessment is an important metric for the insurance industry.
Insurance companies take over risks from their customers and level of risk determines their insurance premiums. Currently, Statistical methods are used to analyze insurance policy risk levels. ZASTI built an AI model to identify the risk profile of a customer from high risk to low risk. ZASTI proprietary model predicted the Risk probability of each policyholder, and the risk severity which is the extent up to which the claim can be made. The model also classifies the customer based on a Risk Index.