ADVANTAGEGO ANNOUNCES UNDERWRITING PLATFORM PARTNERSHIP WITH CANOPIUS
London, 26 September 2023 – AdvantageGo, a leading commercial insurance and reinsurance technology provider, part of Coforge, today announces a partnership to provide its ‘Underwriting’ workbench application to Canopius, a global specialty (re)insurer.
The workbench will be implemented across all lines of insurance and reinsurance business underwritten within Canopius UK and London Market teams, and is expected to go live next year.
Underwriting from AdvantageGo systemises an underwriter’s knowledge and delivers analytics-driven insights throughout the decision-making process.
Consolidating all underwriting functions into a single platform, Underwriting integrates into established core policy administration systems, driving significant benefits in operational efficiency and data accuracy that massively increases the velocity and agility of decision making.
Powered by an ecosystem of data providers that supports data led decisions, Underwriting proactively delivers new business insights and risk specific knowledge. Combined with an underwriter’s own intellectual property, underwriters can create new products, understand risk at new levels of granularity and differentiate beyond their peers.
Kate Roy, Group Chief Operating Officer of Canopius, said: “Our underwriters are highly engaged with, and excited by, this project, which will function as the test case for the technology’s broader rollout across lines of business.”
Roy said: “Improved insights and automation gains, streamlining and improving operational processes, which the Underwriting workbench application will bring to our teams, will ultimately lead to better decision-making by better-informed underwriters. We see considerable value in this product.”
Ian Summers, Global Business Leader, AdvantageGo, said: “Underwriting workbench is our flagship product, and here it is being rolled out within a global specialty (re)insurer.”
He continued: “The application integrates with other existing tools, such as those that Canopius uses for pricing and sanctions checks. The goal is to provide underwriters with a single-pane-of-glass view of risks that they can use to market-leading effect.”
Summers added: “This announcement is a win-win situation for the client and our own development team at AdvantageGo. I look forward to watching those gains and seeing that value as Underwriting’s groundbreaking rollout continues in 2024.”
Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, China, Singapore, the U.K., and the U.S. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a U.S. surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda-based Class 4 Insurer.
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.
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