(Image source: RiskPossible.)
EMC Insurance Companies (Des Moines) has announced that it has formed a strategic partnership with InsurTech startup RiskPossible (Miami). The company is the creator of the Continuous Underwriting Engine (CUE), a digital platform that allows insurance carriers to monitor clients’ evolving operations and assess risks on an ongoing basis.
With real-time updates and alerts, CUE can help insurance carriers know when important exposures change. EMC will soon begin piloting those capabilities, according to a statement from the carrier.
“Engaging in this pilot project lets us explore how RiskPossible’s capabilities can infuse additional insights into our risk analysis and supplement our profitable growth,” comments Dan Crew, VP, Underwriting, EMC. “We consistently seek out innovative products that enhance our company’s strategic direction by helping us look beyond the way things are done now.”
Global Insurance Accelerator Alumnus
RiskPossible CEO Michael DeSiato notes that the strong underwriting culture and innovative spirit at EMC is a great fit for its product. “We look forward to providing their underwriting team with innovative ways to monitor in-force policy portfolios and gain actionable insights into risks,” he says.
EMC first became aware of RiskPossible through its involvement with the Global Insurance Accelerator (GIA, Des Moines), a business accelerator focused on developing and growing innovative insurance-centric startups. RiskPossible is a 2018 GIA cohort member and EMC is a GIA investor.