Earnix, a provider of integrated pricing and customer analytics software for banks and insurers, and Samsung Fire & Marine Insurance Co., Ltd. ("SFM") announced that SFM, a multinational insurance company based in Seoul, South Korea and part of the Samsung Corporation, has selected Earnix to enhance the company's pricing capabilities.
SFM, South Korea’s largest non-life insurer, will use the Earnix Insurance solution to better understand its customers and improve pricing management capabilities for its personal lines auto business.
SFM has entered into a long-term partnership to implement Earnix Insurance, during which Earnix will help SFM to advance its pricing technology and bring cutting-edge pricing strategies to market in the future without reliance on external resources.
"Following a thorough evaluation process, Earnix impressed us with dynamic analytics solutions that align perfectly with our current and future needs around pricing management and customer value," said Sang Bong Lee, Samsung Fire & Marine Insurance’s Vice President, Auto Insurance Strategy Team Leader. "We are confident that Earnix’s deep customer analytics will enable us to better serve our customers and make increasingly well-informed decisions in our Auto business. Looking forward, we view Earnix as a long-term partner that will help us in advancing our pricing technology on an organization-wide level."
"We are honored to have Samsung Fire & Marine Insurance joining our growing roster of global insurance customers," said Amitai Ratzon, Earnix Vice President of Sales. "SFM is an impressive market leader with goals for international growth and an interest in adopting advanced technologies that make a real business impact. I’m confident that our multi-year partnership with SFM will make a valuable contribution towards the company’s continued leadership in the markets in which it operates."