The partnership has resulted in Liberty’s underwriters gaining automated access to thousands of third-party data sources and deeper insights into risks.
As a result of the 7-month initiative the insurer now enjoys an enhanced user experience and integration with Milliman InelliScript’s Irix — Risk Score.
Identifying new product agility as critical, the U.K. insurance brand is building on the 2017 launch of its travel insurance line on Duck Creek.
The acquisition equips the company with a robust database offering for prospecting and enhances its existing client delivery, analytics and content solutions.
The solution helps carriers reduce underwriting expenses through more efficient data collection and superior insight for underwriting risk selection, as well as improve loss experience.
Applied calls the acquisition a critical component of its investment in digitizing the end-to-end commercial lines submissions process across agencies, brokers, insurers and insureds.
Verisk seeks to strengthen its existing data and analytics solutions for the life and annuities market.
Initially expecting to replace only its claims system, the insurer decided to replace all its legacy corse systems with the fully integrated core suite.
The projections provide carriers a forward-looking view and serve as an external environment benchmark to recalibrate their internal projections.
The product includes blanket coverage for items in the home, on-demand insurance for individual items taken out of the home, plus liability and emergency accommodation cover.