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 time. Exact 4.0 uses intelligent automation to assess detailed risk and hazard information and provide the underwriter with a summarised overview of the key account metrics, as well as an immediate view of the highest risk locations. These locations can then be visualised in detail, including viewing hazard maps and clashing locations from other lines of business, in order to avoid the unexpectedly large losses that can otherwise go undetected.
Adrian Morgan, Executive Vice-President and Head of NIIT Insurance Technologies Ltd., says: “Insurers are under increasing pressure to demonstrate underwriting discipline, and it is critical that they can make well informed risk selection and pricing decisions. Exact 4.0 is designed to access this wide range of risk information and provide decision-critical insight, all within the time frame required for an underwriting decision”.
Tom Downey, Chief Underwriting Officer for Pen Underwriting - the first customer of Exact 4.0 - says: “We have a limited amount of time to make decisions on a risk and having the information to hand, all in one place, helps us to make better informed and also more efficient underwriting decisions.”
In future, the system will be enabled to understand more sources of information, including data feeds from Internet of Things (IoT) devices such as smart building monitors, in order to understand risk in a way that has never been possible before.
AdvantageGo is the innovative commercial insurance and reinsurance product family from NIIT Technologies. It harnesses the power of proven, functionally-rich core solutions and augments it with the energy and culture of being an InsurTech leader. AdvantageGo enables insurers and reinsurers around the world to fuse the traditional with digital, helping them to rapidly adapt, drive change and succeed with agile software and Microservices.
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About NIIT Technologies
NIIT Technologies is a leading global IT solutions organization, enabling its clients to achieve real world business impact through unparalleled domain expertise working at the intersection of emerging technologies. The Company focuses on three key verticals: Banking and Financial services, Insurance, Travel and Transportation. This domain strength combined with leading-edge capabilities in Analytics, Cloudification, Cognitive automation, and Digitalization, helps clients innovate business, automate process and industrialize AI. With over 9500 people serving clients across Americas, Europe, Asia, and Australia, NIIT Technologies fosters a culture that promotes innovation and constantly seeks to find new yet simple ways to add value for its clients.