ADVANTAGEGO ANNOUNCES EXACT PARTNERSHIP WITH BEAT CAPITAL PARTNERS
London, 03 October 2023 – AdvantageGo, a leading commercial insurance and reinsurance software provider, part of Coforge, today announces a partnership to provide its Exact exposure management platform to Beat Capital Partners, a venture capital investor focused on the insurance industry.
Beat is an incubator of insurance talent for ambitious and entrepreneurial underwriters and underwriting teams. The company provides them with start-up funding, infrastructure, risk capital, guidance and support services.
Exact enables underwriting teams to interpret and control their aggregate exposures across the book quickly, accurately and confidently. Its interconnected, end-to-end exposure management software allows the assessment of exposures with greater granularity, enabling better informed decisions.
Andrew Cunningham, Deputy Active Underwriter of Beat Syndicate 4242 said: “We started a new energy class trading as Horace Underwriting and required an Exposure Management solution. We selected Exact based on previous experience and their ability to meet our requirements and timescales, at satisfactory value.
Many of our staff, both support and underwriting, had experience with the product and were persuaded by the improvements that have been made in the latest updates.
The implementation experience, with AdvantageGo providing competent and experienced resources, helped to ensure a successful implementation.”
Ian Summers, Global Business Leader, AdvantageGo, said: “We have a lot of admiration for Beat’s investment philosophy and operating model. The company is all about efficiency, enabling and supporting underwriters to be more dynamic, fleet of foot and effective.
“We are proud that they are choosing AdvantageGo and Exact as an enabling tool to enable that effectiveness and drive profitability across their business. Beat provides scale and infrastructure to entrepreneurial underwriting, and we’re very pleased to be part of this market-winning package,” Summers said.
Bob Riddler, AdvantageGo Account Director, added: “This has been a great example of how quickly Exact can be inserted into the underwriting process, a topic of uncertainty for many firms looking at updating legacy exposure management tools.
“We made this happen, from ‘out of the box’ to live in just a few weeks in May and June. Part of Beat’s business model is to free underwriters from the shackles of legacy technology, so we’re proud that our own industry-leading tech can be part of their solution.”
Today’s release builds on previous announcements regarding the AdvantageGo Ecosystem.
About Beat Capital
Beat Capital Partners is a long duration venture capital investor exclusively focused on the insurance industry, offering the right individuals and teams start-up funding, infrastructure, risk capital, and highly rated paper, alongside experienced guidance and support. Beat has launched ten businesses since its founding in 2017, which will collectively write gross premiums estimated in excess of US$500 million in 2023 and operates Lloyd’s Syndicates 4242 and 1416. Beat is backed by experienced insurance investors Bain Capital Credit, Elliott Management and Amwins, as well as its management team, and is committed to being the best possible partner for proven insurance talent. For more information, see www.beatcapital.com.
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.
Exact is an enterprise level exposure system that delivers the analytical capabilities insurance companies want for pre- and post-bind activities in a scalable, flexible system. Exact’s dedicated ‘out of the box’ renewables data model enables recording of onshore and offshore wind farms, solar farms, wave/tidal plants, substations or any other structure or property related to a renewables policy. Quickly populate schedule data via manual or automated lookups against industry database. Regularly check exposure on any characteristics recorded. Inspect linked assets and assess risk for contingent business interruption losses. Discover the Exact answer to your exposure requirements.
Learn more at www.advantagego.com/en-us/products/exposure/
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