FTI Consulting and Pinpoint Predictive Announce Strategic Partnership to Deliver Psychometric Advantage to Insurers
London and San Francisco, June 24, 2021 — FTI Consulting, Inc. (NYSE: FCN), a global business advisory firm, and Pinpoint Predictive, Inc., a developer of psychometric data enrichment and analytics services, today announced a global partnership to deliver these strategic capabilities and advisory services to insurers and other financial services companies.
Pinpoint Predictive integrates human behavior into insurance by providing artificial intelligence-powered psychometrics, the mathematical science of individual psychological differences. Pinpoint’s enrichment of insurers’ data enables significantly improved risk selection, claims handling and determination of lifetime value, allowing clients to understand and communicate with customers far better than previously.
FTI Consulting, with over 6,400 employees in 29 countries, advises insurers and other financial services firms on key strategic areas such as risk, compliance, financial crime, investigations and disputes. FTI Consulting uses data and advanced analytics in forensic applications, and its Global Insurance Services team is increasingly bringing that specialism to insurance clients.
Pinpoint’s personality-focused data enrichment provides new predictive power to insurance carriers and Managing General Agents, leveraging the latest in behavioral science and artificial intelligence. Factoring individuality into predictions can significantly enhance insurers’ understanding of their customers.
“The psychometric data from Pinpoint is going to be a game changer,” said Peter Kelly, a Managing Director in FTI Consulting’s Global Insurance Services practice. “The data is uncorrelated to existing exposure and personal data used by insurers for pricing and various propensity models and in early trials has shown breakthrough predictive power. Our insurance clients are very interested in using this data for a whole host of challenging problems, and we are delighted to be a partner of Pinpoint in bringing new insights to the insurance community.”
Mr. Kelly, who works in London but serves customers around the globe, leads a number of FTI Consulting’s technology partnership programs aimed at helping insurers with services in the areas of advanced analytics and data solutions. This partnership further enhances FTI Consulting’s digital offering and approach to insurance solutions.
Avi Tuschman, Founder and CIO of Pinpoint Predictive, added, “We’re delighted to partner with FTI Consulting, and we especially appreciate their extraordinary team, advisory services, and track record of bringing cutting-edge innovation to market.”
About Pinpoint Predictive
Pinpoint (www.pinpoint.ai) provides an insurance-specific data-enrichment platform to predict individual risk and engagement behaviors. The platform can enrich up to 90% of US personal records with its proprietary data. Pinpoint’s data are based on AI-powered psychometrics, which increase the predictive power of claims frequency and severity, cancellation, SIU referral, litigation, and other key behaviors. Pinpoint is backed by JAZZ Venture Partners, the Stanford StartX Fund, and other top Silicon Valley VCs, and is a member of InsurTech NY accelerator.
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Source: FTI Consulting, Inc.