Hollard Partners With Earnix to Lead Their “Digital Transformation Through Pricing Excellence” Project
Earnix, a global provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has been chosen by South African insurer, Hollard, to replace multiple legacy rating systems with Earnix’s single enterprise solution for faster rating and deployment, driven by advanced analytics and robust automation features.
“Earnix was selected after a thorough review of vendors. We were looking for a digital solution to give our organization a strong backbone for rating and pricing processes. The Earnix Rating Engine platform provides a best-in-class solution, with its strict governance tools, real-time capabilities, ease of integration and scalability,” said Viren Naidu, CIO at Hollard.
“The Earnix Rating Engine stood out with its ability to robustly integrate rating and pricing processes across Hollard. With the Earnix platform we expect to benefit from improved pricing controls, with real-time model deployment agility, in-platform modeling capabilities and advanced scenario planning features,” said Michael Cheng, Chief Risk and Underwriting Officer at Hollard.
“We are thrilled to be chosen by such a forward-thinking company as Hollard. Our smarter business velocity offering, and Hollard’s specific setup, provides us with a great opportunity to showcase the scalability, systemization, and analytical power of our system. We are looking forward to a swift implementation process with our signature cloud-based incremental integration system,” added Earnix CEO, Udi Ziv.
With the Earnix Rating Engine, Hollard’s rating and pricing operations transition to a single, cloud-based unified platform for its commercial and personal lines products. This shift will dramatically enhance Hollard’s efficiency in these processes, allowing multiple users across teams and geographies to work at the same time while ensuring full control and governance throughout.
The Earnix cloud-based platform is remotely deployed in an incremental manner and seamlessly integrates with any IT system, thereby delivering value in months, rather than years. Through the Engine’s close alignment, Hollard will achieve the ability to update and deploy its rate sets and prices faster, responding in an agile manner to ever-changing market conditions and customer needs.