A Prudential Life Insurance Korea (Prudential) - Portuguese
Founded in 1989, it is one of the most profitable specialized life insurance companies in South Korea
Challenge: With high growth and an average of three years to adequately train underwriters, Prudential needed to automate policy underwriting in a straightforward manner, implement analytics, and expand its use of data to make more sophisticated actuarial calculations. Solution: FICO® Blaze Advisor® decision rule management system and FICO® Model Builder Results: Automation of the evaluation and underwriting of up to 50% of policies; reduction in the loss ratio and cutting of operational costs by up to 70% by increasing the evaluation of data variables from 5 to 30, achieving a return on investment of 500% after the first year of using FICO® Model Builder; thus creating a highly motivated work culture that has attracted the top talent in the country.
Download your free Case Study
Take the next step
Connect with FICO for answers to all your product and solution questions. Interested in becoming a business partner? Contact us to learn more. We look forward to hearing from you.