London, 13th March 2019 - AdvantageGo, the innovative commercial insurance and reinsurance software provider, announced that Verto Syndicate 2689 has adopted Exact, AdvantageGo´s exposure management insurance solution, to help it manage its exposure for its offshore energy book.

 

Verto was established in 2017 as a new Lloyd’s syndicate, with backing from Hampden and Asta as its appointed managing agent. It writes treaty reinsurance for cedants worldwide in areas including Property, Casualty, Marine and Energy and other Specialty lines.

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In my first blog, I introduced our C2C philosophy, and in the second blog I described a real case study taken from a software development industry forum and how applying the C2C philosophy solved some issues.

 

In this, my third and last blog in the series, I’ll cover the steps insurance companies need to address to become the disruptors rather than the disrupted.

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In a global survey we commissioned last year of insurance and reinsurance executives, upgrading technology was voted the number one concern for senior industry professionals. This result is reflected in the conversations I have with my peers in the insurance industry.

 

We are beyond the point of discussing if and where technology fits in the insurance landscape. The challenge for most insurers and reinsurers is whether to develop bespoke InsurTech solutions within their own business, or to partner with an external...

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In my previous blog, I outlined the Code to Customer (C2C) philosophy. In this blog, I will outline a business scenario I encountered in a forum and how the C2C can be applied to reach a solution.

 

I came across the following case in a software development industry forum. A client had signed up to deliver a module in quick time using a joint global delivery model. The project is now months overdue, stakeholders are unhappy as business and numbers are...

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Any CEO worth their salt should take a moment to consider which disruptive technologies, innovations and business/delivery models could positively impact their business. 

 

Our world, as it stands today, is built on a series of disruptive technologies. Those companies that thrive today, will do well to not rest on their laurels as chances are there is someone right behind them already working on how to deliver the same product or service, better, faster, cheaper and smarter. 

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As I write this, Brexit is again dominating the news headlines, as it seems to have done every week since the beginning of time. The prospect of a no-deal Brexit is now looming larger than ever, and with this comes a flurry of new reports on the potential impact this may have on supply chains and cross border trade agreements. The probability for bankruptcies and credit defaults are on the rise and lead to insurers needing to be more cautious...

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My name is Aabhaas Malhotra, and I am a software developer at AdvantageGo based in Gurugram, India. I joined AdvantageGo one year ago after graduating with a Bachelors in Computer Science specialising in IT Infrastructure from the University of Petroleum and Energy Studies, Dehradun, India. 

 

A recruitment team from AdvantageGo’s parent company visited my university campus. We had an introductory session with the team, which intrigued me. I was selected to join AdvantageGo as a junior software developer and to be...

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Patience is worn thin these days across most walks of life. If I needed a reminder of this fact I got one recently hearing of my parents plans to spend Christmas in Rome this year. 

 

In an act of filial duty, I offered to help them book tickets to attend the Vatican’s famous Midnight Mass service. I looked up how to reserve tickets, and whilst not exactly expecting the latest in facial recognition software, I was at least assuming the Vatican...

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Hi, I'm Papori Dutta, a software engineer at AdvantageGo, working in the Exact team in Gurugram, India. Exact is AdvantageGo’s powerful insurance exposure management solution, which enables insurers to quickly and accurately visualise and manage their entire risk portfolio.

 

Before starting my career at AdvantageGo, I studied computer science at college which is where I was recruited from for this position. I joined AdvantageGo as a fresher (new joiner) last year, and my journey so far has been ineffable to say the...

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In this very moment, as my own changing face exhibits the indignity of supporting something I have never been accustomed to - a moustache - in support of The Movember Foundation, I have taken the mental step to embrace the Mo and focus on the benefits this small charitable act will contribute to the greater good of men’s health...

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I’ve just returned from the second annual Global Reinsurance Innovation and Insurtech conference at Tuckers Point, Bermuda at which AdvantageGo were proud to be a lead sponsor once again.  Unlike many other conferences, this one really makes the effort to be a little different and delivers a great mix of content, speakers, panels, a Dragons Den (more of that later), and some great food!..

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The message from industry leaders at last week´s Insurance Insider London Market Conference (LMC) was clear – London needs to be bold and recapture its reputation if it plans to stay relevant and competitive...

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Sanctions. What are the chances of your company being fined for breaching sanctions regulations? If I was betting man I would hazard a guess that unless your company has adopted a robust integrated approach to ensure it complies with Sanctions regulations, then it is exposed to this risk...

 

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Marine insurer Gard AS has deployed Exact by AdvantageGo, the commercial insurance and reinsurance product family from NIIT Technologies, to help streamline and automate exposure management processes across its business.

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As we approach the end of 2018, for many, thoughts turn to Christmas shopping and New Year´s celebration plans, but for the insurance sector, this is one of the most crucial seasons of the year. Many reinsurance contracts will renew on the 31st December and at the time of publication, many insurers will have met or been meeting with their reinsurers to negotiate their renewals. The Monte Carlo Rendez-Vous in September is seen as the place where market players meet...

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AdvantageGo, the commercial insurance and reinsurance product family from NIIT Technologies, today launched Exact Max, its powerful exposure management solution. For the first time ever, reinsurers can swiftly and accurately visualise their entire treaty portfolio of billions of locations in real-time and with high-resolution location data.

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Adrian Morgan, Executive Vice-President and Head of AdvantageGo at NIIT Technologies shares survey insights with Intelligent Insurer. Findings revealed that “The number one concern for C-suite industry executives was the need to upgrade their company’s technology."

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Eugene Brien, Head of Business Development, AdvantageGo speaks about the high-level goals for the business, the main challenges and opportunities facing the industry, and what he would do if he wasn´t working in the insurance sector.

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Global Re has published an article by Adrian Morgan, Executive Vice-President and Head of AdvantageGo at NIIT Technologies, that looks at how InsurTech can revolutionise the re/insurance sector.

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Bermuda could spark a “ReinsurTech” revolution, which combines InsurTech with the island’s reinsurance expertise. The business environment on the island is also more accommodating to innovation than any other jurisdiction, according to panelists at an industry Roundtable of experts hosted by AdvantageGo.

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Adrian Morgan, Executive Vice-President and Head of AdvantageGo at NIIT Technologies, talks to Global Re about technology trends impacting the industry. In the Q&A, Adrian looks at the challenges and opportunities when it comes to adopting new technology, and how the industry is exploring Artificial Intelligence and the Internet of Things to help with underwriting decision support.

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June 20 2018, London – AdvantageGo has announced two ground-breaking products - ‘Aniita’ and ‘Score’ - which are designed to make it easier for commercial insurers and reinsurers to integrate and utilise new digital data.

 

‘Score’ provides rapid access to layered risk scores for any insurable asset anywhere in the world, across all lines of business. Augmenting normalised data from leading global data providers and the Internet of Things, ‘Score’ serves up a benchmark of risk scores, that are displayed a single...

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Martyn Sutton, Head of AdvantageGo in US, talks to A.M. Best TV during the annual IASA conference in Nashville, TN, USA. Click here to watch the interview..

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With dependable regularity the IASA conference comes around each June marking another industry year and presenting the opportunity to see how the industry has evolved in the previous twelve months.  As an industry we all have a strong digital agenda, the IASA conference will allow us to assess just how far we have progressed along that digital transformation road we have come. A recent survey AdvantageGo commissioned suggests that in many cases not that far. This time we’re off to...

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According to a global survey of insurance and reinsurance executives carried out by AdvantageGo, upgrading technology is the number one concern for industry leaders.

The top five concerns of executives are:

  1. Need to upgrade technology
  2. Underwriting discipline
  3. Regulation
  4. Cybersecurity
  5. Mergers and acquisitions
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AdvantageGo,the innovative commercial insurance and reinsurance software product family from NIIT Technologies, launches 10 pioneering Microservices which augment decision-making and help insurers and reinsurers to quickly reduce cost and proactively manage risk.

AdvantageGo’s range of Microservices, including Peril Score, Events Service and Asset Tracking, harness a vast array of curated up-to-the-minute intelligence from leading data providers and Internet of Things (IoT), to distil personalised and powerful insights.

Utilising proactive notifications and real-time alerts, the Microservices help insurers and reinsurers around the world...

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Back in the eighties when I first entered the Lloyd’s insurance market underwriting discipline simply meant doing exactly what the underwriter told you to do and not deviating from the rate sheet tucked conveniently at the top of the ‘box’ drawer.  The focus back then was primarily on writing for premium, hitting capacity limits and meeting the business plan income targets, arguably with less thoroughness in assessing the true quality of what was coming across the desk.  That was thirty...

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December 11 2017, London - NIIT Technologies Limited, a leading global IT solutions organization, has announced the release of version 4.0 of its exposure management tool Exact.  A key feature of this version is the ‘Underwriter View’ which supports underwriters in their decision making process by providing hazard, accumulation and exposure information within a single easy to use platform.

Exact is widely used by global commercial and specialty lines insurers to manage accumulations of risk across all lines of business in real...

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NIIT Technologies Limited, a leading global IT solutions organization, announced that the reinsurance company UnipolRe has gone live with a new IT system driven by the underwriting platform Navigator.

The Navigator portal solution delivers full pre-bind workflows with submission and quote administration capabilities across the company.  It provides an enhanced customer experience processing new business transactions in real time and allowing comprehensive tracking and reporting. The Navigator system, which is part of NIIT Technologies’ insurance product portfolio, allows UnipolRe  to simplify...

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Yesterday evening, the 17th ‘Insurance Day London Market Awards’ were held at Hilton Bankside hotel. With over 400  guests, this is one of the largest and well respected events of its kind, in our industry.

For the 2nd year in a row, NITL has sponsored the ‘Insurance Initiative of the Year’ award. This award recognises the initiative that redefines the industry’s competitive landscape and raises the bar for customers’ or partners’ expectations.

The winner this year was JLT Re with kWh Analytics....

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This week I will be heading to Bermuda to attend a new insurance industry event highlighting innovation on the Island.

Global Re’s Innovation and InsurTech conference will examine disruptive global technology trends and their effect on the evolution of the insurance and reinsurance markets, but I am particularly interested in seeing Bermuda contribute to the conversation around innovation in insurtech and what opportunities it can bring to the Island.

Bermuda as a jurisdiction has always worked hard to keep in touch with...

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October 9 2017, London - NIIT Technologies Limited, a leading global IT solutions organization, announced that Pen Underwriting has successfully deployed its insurance exposure management software, Exact.

Pen Underwriting is one of the UK’s largest MGAs (managing general agent) writing more than £500 million in premium. It has implemented Exact, part of NIIT Technologies’ insurance product portfolio to monitor and manage its risk exposure and accumulation across territories.

Matthew Unsworth, Chief Operating Officer of Pen Underwriting, said: “As a multi-class, multi-territory MGA, we operate a virtual insurer model, providing...

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Believe it or not there was once a time when Apple was not the globally dominant force it is today.  In a period when they were close to bankruptcy, Co-Founder Steve Jobs included the following nugget of wisdom in one of his company addresses: “The cure for Apple is not cost-cutting. The cure for Apple is to innovate its way out of its current predicament.”

It’s a piece of advice that the insurance and reinsurance industries should pay attention to, particularly...

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