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Dynamic Pricing Models
Challenge
Constantly fluctuating demand, varying raw material costs, intense competition and changing regulations are major hurdles in getting the product pricing right. Traditional pricing methods often rely on fixed rule based models that cannot adapt to market changes in real time. This may result in either missed earning opportunities or loss of market share.
Solution
Machine learning models powered by Unify AI leverage multiple machine learning algorithms to analyze multiple data points, such as historical sales, market trends, customer behavior, supply chain conditions, competitor pricing and macro economic indicators. It also helps to choose between various statistical methods for achieving the most desirable results. While business systems continuously update market feedback, our data ingestion tool kit allows for ingesting the data in real time allowing manufacturers to adjust prices quickly.
Benefits
Technical benefits : Since our data ingestion tool kit, AI studio for ML modeling, feature store etc are all integrated in a single framework, data scientists are able to quickly address data and model drifts in the wake of changing market conditions.
Manufacturers can now maximize revenue by responding swiftly to market fluctuations, ensure competitive pricing, reduce the risk of overpricing or underpricing, and improve profitability.
Anti-Money Laundering (AML)
Challenge
Challenges with AML arising from fragmented data sources, making it difficult to detect suspicious activities. Existing detection methods being inefficient, causing compliance with reporting and documentation requirements to be cumbersome.
Solution
UnifyAI platform enables integration and unification of customer data from various sources to create a single, comprehensive view of data and models. Predicting and assigning risk scores to transactions and customers, while prioritizing investigations - thus improving overall AML efforts.
Benefits
Technical Benefits: UnifyAI AIStudio's machine learning models enhance detection precision, minimizing false positives and negatives. Its real-time analysis and advanced data integration swiftly identify suspicious activities, while effortlessly scaling to handle large transactional volumes for growing institutions.
Business Benefits: Automating AML processes reduces operational costs, streamlines compliance, and ensures adherence to regulations, lowering penalties. AI Studio proactively identifies risks, improving security and fostering customer trust through reliable and compliant operations.
Persistency
Challenge
Scattered persistency models across data scientists' local systems caused offline inferences, time-consuming manual scripts and manual sharing, resulting in delays and inefficiencies.
Solution
Achieved higher efficiency with AI Studio to centralize various persistency models, streamlining workflows, getting real-time insights, scalability,and reproducibility - thus, simplifying model management.
Benefits
Technical Benefits: UnifyAI offers high-accuracy models for predicting policy persistency and integrates with policy management systems to analyze customer behavior. The platform supports large datasets, providing scalable analysis across insurance products and customer segments.
Business Benefits: Identifies at-risk policyholders for targeted interventions, enhances retention strategies, and strengthens customer relationships. Improves revenue stability by increasing persistency rates and reducing policy lapses.
