Applied Analytics & ML
Deploy fully interpretable, real-time analytics and ML and leverage the very best AI models in the market today.
Underwriting
Optimization and automation offer underwriters what’s needed most — speed, scale, and control.
Overview
The sky’s the limit for underwriting, thanks to cloud-based platform technology
Optimization and automation often get referred to in the same breath. It’s no surprise, they work side-by-side to ensure operating models are as streamlined as they can be for digital customers, often with exceptions and agent intervention only needed if requested. Optimizing and streamlining underwriting processes are vital to ensuring a balance — all underpinned by available specialist resources — that allows the maximum volume of work to be automated as efficiently as possible. FICO is already helping organizations make their operations smarter, faster, and more profitable with increased automation and personalization on digital channels. It includes rapid application development, optimization, automation, and accelerated underwriting decisions that help agents stay one step ahead of the competition.
About
FICO® Platform for Underwriting
Underwriters continue to deal with one of the most competitive and challenging periods in the history of the industry. It seems regulations are in a state of constant flux. Customers are more willing to switch providers than ever before — and they expect faster, personalized offers and service. At the same time, consumer information still isn’t easy to collect, analyze, or approve, and many companies haven’t been able to automate processes as successfully as they’d hoped. Underwriters try to make the best of legacy systems. But downward pressure on margins makes it harder for companies to staff up or upgrade their software. FICO® Platform for Underwriting is already helping providers win a competitive market share. It offers everything underwriters need at their fingertips — and so much more.
- Centralized decisioning — including everything from underwriting, claims, fraud prevention, pricing, agency and broker management, plus policy offers and management
- Increased automation and personalization on digital channels
- Rapid application development and faster product deployment
- Optimization with advanced algorithms
- Simulation and testing
- Decision and model governance and monitoring
- Rapid deployment of SAS, R, Emblem, and other analytic models
- Fraud prevention
- A highly segmented approach for collections and recovery
Why FICO?
With more than 60 years of innovation and pioneering work in predictive analytics, machine learning, and artificial intelligence, FICO® Platform provides a complete, end-to-end set of composable capabilities that empower you to uniquely address a vast spectrum of use cases — right across the customer lifecycle.
It’s the unique combination of Data, Insights, Actions, and Outcomes that delivers a differentiated approach to AI decisioning — at speed and at scale. It enables you to achieve a competitive advantage you’d experience with a fully custom approach — where your unique know-how and intelligence are kept secret — while lowering your costs and speeding up the time to market.
Case Study Read more
Mercury Insurance
Leading insurer “democratizes” its decisioning platform for insurance underwriting
“We deployed the first big chunk of rules in a very short timeframe, very smoothly. Then every release got easier and easier, to the point where every month we’re rolling out a new set of rules.”
Kevin Bailey, Director of Underwriting Research and Innovation Mercury Insurance
Capabilities
FICO solutions offer a wide range of capabilities, empowering you to make smarter, personalized decisions, streamline operations, and improve the customer experience.
Intelligent Decisions
Model decisions with open standards, automate with business rules, and support human-in-the-loop AI.
Digital Twins & Simulation
Unlock a distinct competitive advantage with an enterprise scenario management ecosystem.
Data Connection & Ingestion
Seamlessly connect to and bring in data from any source — when and where it’s needed.
Business Composability
Expertly compose business services that choreograph complex workflows to deliver results at scale.
Always-On Features & Profiling
Enrich, manage, share data features, and build real-time customer understanding with transactional profiling.
Enterprise Optimization
Unleash the power of mathematical optimization — find solutions to your most complex business problems using high-performance solvers that maximize your desired outcomes.
FICO® Platform — Core
Enable best-in-class, efficient, scalable, and secure deployment of decision intelligence across cloud, on-premises, and hybrid environments.
Digital Twins & Simulation
Unlock a distinct competitive advantage with an enterprise scenario management ecosystem.
Related solutions
Learn how FICO solutions can empower you to make smarter, personalized decisions, streamline operations, and improve the customer experience.
Application Fraud
Can you prevent first-party, third-party, and synthetic identity fraud and provide customers with great service?
ARM
ARM enables faster time to “yes” by approving loan applicants quicker, driving increased profitability, streamlining your operations, and reducing regulatory risk.
Customer Acquisition
Outshine the competition and reach new heights. Predictive analytics and enhanced customer onboarding give you the power to achieve portfolio growth while staying within resource constraints.
Customer Communications for Collections
Resolve more debt with AI-infused omnichannel communication.
Customer Communications for Customer Management
Create seamless communication across the entire customer journey with a single enterprise platform solution.
Customer Communications for Fraud
An intelligent omnichannel digital customer communication management solution for low-friction, high-security fraud alert resolution.
Customer Communications for Enterprise
Intelligent digital customer communication management across the customer lifecycle.
Offer Personalization
One size doesn't fit all. Deliver the right offers, when and where it matters.
Why lose business to your competitors?
Speak to an Expert
We can connect you directly to an advisor.
Request a Demo
After we learn about your unique needs, we’ll organize a customized demo.
Join the FICO Community
As a customer, you’ll be part of a global network of fellow innovators.