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30.05.24 AdvantageGo

London, 30th May 2024 – AdvantageGo, a leading commercial insurance and reinsurance software provider and part of Coforge, today announced a strategic alliance with Relativity6, a leading artificial intelligence (AI) powered Industry classification provider.

Relativity6 addresses incorrect or out-of-date industry classification rating data and flagging of hazardous industries which allows underwriters to make key rating decisions on up-to-date classifications, using 6-digit NAICS, and other widely utilised class codes.

Typically, data providers reference federal or state filing information, which can be unreliable and may present an incorrect basis for rating. Identification of precise classification and flagging of hazards enable a more accurate rating assessment, across multiple lines of property and casualty (P&C) business.

The cyber line-of-business will present scoring of business classification through AdvantageGo’s Underwriting Workbench, underwriters can use Relativity6 to instantly determine if a submission is within risk appetite, triage risks effectively, and price policies more accurately.

The AdvantageGo Ecosystem offers carriers the choice of leading best-of-breed technology providers through a single source to address rapid and accurate risk selection. The ecosystem (combining with native capabilities) delivers optimization across Underwriting workflows, end-to-end through single source integration, to accelerate and digitize operations.

Alan Ringvald, CEO of Relativity6, commented: “We are delighted to join in partnership with AdvantageGo and its industry-leading ecosystem.”

“In a world of rapidly changing and continuously emerging risks, it is imperative to have best-in-class industry classification data, with confidence scores for informed decision making,” Ringvald continued.

“I’m excited to announce this latest AdvantageGo Ecosystem partnership with Relativity6, an innovative, AI-driven, leading data classification provider,” commented Ian Summers, Global Business Leader, AdvantageGo.

“A valuable addition to the Underwriting Workbench, Relativity6 will provide a valuable feed, integrating with other data sources to quickly classify risk data, enabling Underwriters to take better informed decisions,” Summers continued.

“We’re committed to providing clients with an increasing array of data-driven solutions, accessible via the AdvantageGo Ecosystem. The goal is to deliver market-leading capabilities to underwriting teams, while streamlining service provider relationships for insurance companies to manage, as they navigate a fragmented insurtech landscape,” Summers added.

About Relativity6

Relativity6’s AI platform retrieves up-to-the-second information about a business in order to automatically detect its 6-digit NAICS code and verify its existence. Relativity6 is the fastest and most accurate NAICS detector on the market, improving commercial underwriting workflow and overall business classification and segmentation. Relativity6 is backed by Fin VC, State Auto Labs Fund, and Vectr Ventures.

Learn more at www.relativity6.com

About AdvantageGo

AdvantageGo helps insurance companies to look from an increasingly precarious future back to today. The difference is clarity. And profit. By bringing the future more efficiently and effectively into the present, we position insurers´ profits at the heart of their business – today, not tomorrow. Our pioneering platform and 25 years of experience mean AdvantageGo offers insurers the IT agility they need to create an intelligent digital strategy.

Learn more at www.advantagego.com/en-us/

About Coforge

Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries, and partnerships with leading platforms provide us with a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration, and Automation technologies to transform client businesses into intelligent, high-growth enterprises. Coforge’s proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 25 delivery centers across nine countries.

Learn more at www.coforge.com

Media contact:

David Benyon

[email protected]

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