The Earnix Blog: Resources for Insurance and Banking Leaders

Today's landscape of consumer and auto lending is increasingly influenced by heightened margin pressures and rising loan risk due to increased delinquencies and declining affordability. With high interest rates shaping the sector, understanding how your loan pricing strategies stack up against the competition is essential.

If you are facing with a choice of building vs purchasing an off-the-shelf pricing analytics software, this blog post will help you understand the pros and cons of both and present them to your management and IT teams.

Some of the top challenges experienced by the auto finance companies worldwide – such as declining loan profitability, compliance and audit issues, rigid pricing structures, and difficulty forecasting pricing scenarios and outcomes – can and should be addressed by a modern pricing analytics engine like Earnix Price-It.

The use of synthetic data has expanded greatly the options in the world of analytics and data science, and has found traction in many corners of the insurance industry. It has yet to find wide usage in specialty markets. In these markets, failure to take full advantage of synthetic data runs the risk of suboptimal decisions and the resulting negative impacts to profitability.