(Social media risk scoring can provide insights into customer-specific risk. Photo credit: Douglas S. Smith.)
Insurity (Hartford, Conn.) will integrate Social Intelligence’s (Santa Barbara, Calif.) Social Media Risk Scoring solution into the Insurance Decisions core insurance processing suite, according to a joint vendor statement. The integration will enable real-time predictive scores based on the online presence of participating insurance customers, according to the vendor statement. As a result Policy Decisions clients will be able to leverage social media data of participating customers, offer discounts to better assess risk, and fast track claims processing for qualified policyholders, the statement asserts.
“We are pleased to be working with the innovative team at Social Intelligence. They offer the unique combination of social media data, analytics, and expertise in insurance,” comments Clyde Owen, VP, Sales Solutions, Insurity. “Together we will bring significant opportunities for new insights into insurance consumers that will make for better risk decisions and enhanced processing efficiencies and customer service.”
Online presence when converted into a data set can provide information that provides insurers with new insights into existing and potential customers, according to Max Drucker, CEO, Social Intelligence. “The core processing strength of the Insurity solutions and our data set and risk scoring is a powerful combination enabling us to bring to life an enhanced, predictive, and less costly alternative for assessing insurance risk,” Drucker comments.
Insurity’s Insurance Decisions Suite includes solutions for agency portal, underwriting workstation, policy administration, billing and claims. The vendor also offers Insurance Enterprise View, a modular enterprise solution that aggregates a wide range of insurance data and applications including policy, claims, billing and reinsurance as well as hosting and business services including regulatory support.