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, head of AdvantageGo, talks to Global Re about the latest trends shaping the future of the industry.

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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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