Prudential Life Insurance Korea (Prudential) - Spanish
Founded in 1989, it is one of the most profitable life insurance companies in South Korea.
Challenge: With high growth, and an average of three years to adequately train underwriters, Prudential needed to automate the processing of simple policy underwriting, implement analytics, and expand the data to be used in more sophisticated actuarial calculations. Solution: FICO® Blaze Advisor® decision rules management system and FICO® Model Builder Results: automated underwriting and evaluation on up to 50% of policies; decreased loss ratio and operating costs by up to 70% by increasing the data variables to be evaluated from 5 to 30, achieving a 500% return on investment (ROI) after the first year of using FICO Model Builder; all of the above has succeeded in creating a highly motivated work culture that is attracting the nation's top talent.
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