Companies stuck with traditional dynamic pricing software are struggling to compete in today's digital economy. These black-box point solutions leave little room to react to market trends and regulations, or keep up with the increasing volume and complexity of data. The insurance industry especially has started to move away from these outdated solutions towards artificial intelligence (AI) fueled dynamic pricing systems that enable them to transform, differentiate, and compete. These modern AI solutions enable insurers to quickly react to market changes and stay competitive.
In this paper, we describe how the auto insurance unit of a large TIBCO customer used the TIBCO Model Ops solution to develop and deploy (or operationalize) a working and successful AI-powered dynamic pricing system.