Digital Insurance Agenda

Logical Glue: Online, innovative predictive analytics for financial services

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Feb 9, 2016

Logical Glue is a user-friendly software platform for building and deploying predictive models helping businesses monetize their data. The platform produces a high ROI in multiple scenarios, such as: real-time decision making (e.g. in underwriting), customer acquisition, fraud detection and analytical CRM. Data science is not rocket-science, says Logical Glue. The platform bridges the gap between data science and business. An important part of that is fostering better communication and mutual understanding between data scientists and business experts. The Logical Glue platform can be set to work on big structured data sets to generate an accurate predictive model, displayed on a dashboard. It helps to answer key questions like ‘what happens next?’ and ‘does it make a difference?’ with a view on bottom line business impact.

From finance to the insurance market
Initially, Logical Glue was targeted at the ‘alternative finance’ market, where a growing number of new entrants, peer-to-peer lenders and challengers needing access to low cost, real-time insights on customers for live credit worthiness and risk decisions. But Logical Glue creates even greater value for the insurance industry. Predictive analytics helps create a comprehensive roadmap for managing the entire lifecycle of a customer, from acquisition to lapse or claim. Analytics help an insurer gain an enterprise-wide view of a customer to gather insights and identify opportunities across all business lines for customer acquisition and retention, new product development, underwriting, predicting consumer behavior at point of sale and propensity modeling for insurance claims.

Why we selected Logical Glue for DIA Barcelona
Logical Glue’s technology applies type 2 Fuzzy Logic, which generates human-readable rules that give a clear understanding of transactions and customers, and the reasoning behind predictions. Logic Glues combines this with Machine Learning/Robotics and Genetic Algorithms to look at data analytics problems differently, the results of which are proven to be more accurate, fast and transparent than traditional statistical models used by data scientists. Once the model has been built and deployed, new outcomes can be predicted in real-time by presenting the new data to the API. The footprint of the deployed model is very light and can therefore be executed very rapidly, making scalability for big data possible. Insurers using the Logical Glue platform can apply computational intelligence to increase the accuracy of their claims prediction models, which can save euro millions and enable them to compete more effectively in pricing new policies.

Who is Logical Glue
Logical Glue is all about award-winning software developed by an award-winning team; CEO Colin Magee has 15 years of experience running analytics companies. In his spare time, Magee has a passion for applying analytical methods to horseracing and he authored the book ‘Automatic Exchange Betting’. Logical Glue’s Chief Science Officer, Professor Hani Hagras is the winner of the 2010 robotics word cup. Logical Glue recently won the TSB award to build out their online platform. “Our software brings data science out of the lab and makes intelligent, automated prediction available to every business. For example; insurance claims. Logical Glue gets you faster to market, gives you the most accurate models, and integrates and deploys with your systems in real-time. This is Data Science. Not Rocket Science.Colin Magee, CEO and CO-founder

Logical Glue 2                 

Presenting at DIA Barcelona Colin Magee, CEO Bob De Caux, Principal Data Scientist

Contact info Colin Magee, CEO, [email protected]

Website www.logicalglue.com

Barcelona 27 - 29 June 2023

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