Atidot Launches Pioneering Big Data Platform for Optimizing Business Decision-Making in the Life Insurance Sector
TEL AVIV, ISRAEL — (Marketwired) — 03/15/17 — Atidot
announces the launch of the first SaaS (software as a service)
based predictive analytics platform specifically designed to
address the needs of the life insurance sector. Atidot’s
innovative Big Data modelling and decision-making tools will
accelerate the pace at which senior life insurance executives
can confidently and efficiently utilize big data intelligence in
their decision making. Companies that take advantage of the Atidot platform will no longer need to make key decisions based on legacy systems and traditional analytic methods, and data cleansing will be dramatically reduced. Existing company data is securely loaded to the proprietary Atidot platform where it will be automatically cleaned and sorted.
“Our goal is to build a platform so life insurers can leverage their data and become data-driven organizations. We use AI and machine learning to help our customers gain actionable business insights,” said Dror Katzav, CEO. “With our deep experience, both in life insurance and data science, this means that we can assist our customers in their strategic planning, including client development, client retention, underwriting and pricing. As an example, the system can create profile groupings of policyholders by analyzing an unlimited number of categories such as their age, occupation, gender, payment method, average salary for their geographic location and more. This profiling gives the client an insight into the predicted behavior of their policyholders and the client can then adjust their strategy accordingly, whether this is upselling to more receptive clients or client retention efforts to those deemed at risk of lapsing.”
Atidot was founded in 2016 by Dror Katzav and Barak Bercovitz, both of whom served in the technological unit of the Intelligence Corps in the Israeli Army, and Assaf Mizan, former Chief Actuary at the Israel Ministry of Finance. The Advisory Board includes the former Supervisor of Insurance and Capital Markets in Israel and a former executive of a Tier 1 insurance company in the US. The Company raised capital from The D.E. Shaw Group and other fintech VCs. With expertise in both technology and life insurance, Atidot was founded to provide a tool for Life Insurers that allows them to more accurately predict behavior patterns, therefore assisting with company strategies.
The Atidot platform makes loading and analysis of all data extremely fast; one million policies takes less than an hour. Data can be uploaded in house or in the cloud, depending on country-specific regulations. Designed as a living tool, the platform is sustainable and can adapt to new situations. With Atidot’s team’s extensive background in cyber security, the company ensures that data is held securely on the platform and protected from cyber-attacks.
Atidot is an insurtech company with a cloud-based predictive analytics platform for all areas of the life insurance market. Creating the Life Insurance Data Cloud, Atidot’s solutions enable data driven decision making for insurance carriers. Atidot suggests unique ways to view data and models and creates actionable business insights so companies can retain policyholders and maximize profits. For more information, visit www.atidot.com.
Atidot is participating in the LIMRA Life Insurance Conference in Orlando from April 24-26, The Digital Insurance Agenda Conference May 10-11 and The InsureTech Connect Conference October 3-4 in Las Vegas.
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