TEL AVIV, Israel, June 12, 2019 /PRNewswire/ — Atidot, a leader in big data and predictive analytics tools for the life insurance industry, has been named a Cool Vendor by Gartner Inc. in their May 2019 report: “Cool Vendors in Insurance”, authored by Gartner analysts. The report states, “emerging vendors are offering in-depth machine learning and analytical capabilities to drive greater return on investment across the insurance value chain. Insurance CIOs can learn from Gartner’s Cool Vendors’ innovations in intelligence-based technologies to improve accuracy and automate decisions.”
Atidot, one of five companies named as a Cool Vendor in the report, uses a cloud-based platform to provide data-driven insights for the life insurance and annuities industry. The company was created by a team of actuaries and data scientists and focuses on solving the industry’s specific set of challenges.
“The life insurance industry is going through a period of important change, as new companies are rising to challenge the establishments, who in turn are actively seeking tools to help them evolve,” said Dror Katzav, CEO and co-founder of Atidot. “We are proud to have been included as a Gartner Cool Vendor in the new report, and that our solutions are being adopted by providers to help them handle issues such as underinsurance and lapse prevention, as well as to create new risk analysis models that utilize the abundance of data they have.”
Already working with leading insurance providers in the US and Europe, Atidot enables life insurers to fully utilize their existing book of business by taking control of their existing data. Using big data and predictive analysis Atidot’s platform can micro-segment customers by their identifiable footprint, helping to improve service to underinsured customers, enable data-driven retention operations, and to increase visibility to in-force management. Atidot also helps life insurance companies improve their risk models by integrating new big data and predictive analytics solutions.
According to the report, “These insurance Cool Vendors are taking a much more targeted approach to the application of new and emerging technologies like artificial intelligence (AI) to the insurance value chain to provide insurance CIOs with clear return-on-investment metrics.”
Gartner clients can download the full Cool Vendors in Insurance report at: https://www.gartner.com/en/documents/3913233