UNDERWRITING MISSION
In banks and financial institutions, UW is a department responsible for portfolio quality - making approval decisions about customers who are applying for loans - to decide whether to approve or reject them. AIGEN team spent 5 years in a key position as head of UW in international financial institutions where our main mission was to build an AI Approval System. The objective was to achieve optimal decision-making → optimize the profit-cost ratio, cost efficiency and significantly improve process automation. Our mission was very successful as we were able to decrease the risk of the company by 30% by switching from semi-auto UW to fully automated driven by AI. We achieved this result by many Big Data calls during the UW decision flow - to generate a profile of incoming customers. However, a major innovation was a new Machine Learning approach specifically developed for UW needs and constraints.
AI UNDERWRITING SYSTEM
AI UW Methodology is based on a Ph.D. thesis of our own and the roots are coming from Byasian Theory connected to Logit function with WOE and Boosting Algorithms. This way we were able to be extremely flexible even in the case of lack of data or sudden market changes, like fraud or turbulent competitors' actions. Our Fully Automated UW AI Flow - UWAI - is a unique comprehensive tool that can significantly help to decrease risk costs, make decision-making faster, smoother, less costly, and more readable. We are ready to deploy automated UWAI to any company which deals with decision-making processes of any kind where the right and fast decision is vital but hundreds of factors have to be considered.