According to the broker, the company saw 32% growth in average premium due to its investment in tech, which has now been enhanced with the roll out of a new AI
Insurance Age
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MCE has been very quiet (at least in terms of talking to the press) for at least ten years. Often, when seeking comment for various stories, journalists were told that motorbike specialists MCE wouldn’t talk so don’t even try.
However, in recent months, the business has done a u-turn and MCE has started talking about the business loudly and in glorious detail.
The motorbike expert has published a series of releases about its ‘green’ parts division, 400% ancillary sales growth, gender pay gap
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Insurance Age
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MCE Insurance is set to move to full AI underwriting following the implementation of the ICE Policy software system.
According to the broker, ICE Policy, part of the Acturis Group, gives it the ability to develop AI and auto-machine learning within the business.
MCE said that the move marks the final step towards creating a fully automated model providing dynamic, precision pricing by bringing together all quote, policy and claims data. This data equates to 20m records each month.
Analysis
Wi
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Insurance Post
To see oursels as ithers see us!”
So said Scotland’s national bard in the late 1700s – and that seemingly instinctive longing to get an outsider’s perspective is
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