Risk intelligence specialist Tenefit and insurtech data specialist Quotech have formed a partnership which brings peril and loss-event data into insurance-market systems in real time.
Tenefit’s DisasterAWARE Enterprise solution is a global risk intelligence platform used by organisations to prepare and protect their businesses and employees worldwide. This platform provides intelligence on natural and man-made hazards, such as severe weather, social unrest, and supply chain disruptions.
The integration of DisasterAWARE Enterprise with the Quotech Insurance Platform enables the global risk market to automate monitoring and notification of events directly impacting insurance underwriters, brokers, and claims adjusters.
“Our partnership with Quotech creates an exciting opportunity for the insurance sector to grasp and utilize an enormous big-data resource easily and efficiently,” said Bob Miller, CEO at Tenefit.
“Together DisasterAWARE Enterprise and Quotech are able to feed an unparalleled depth of information and situational context directly to the risk market’s desktops, and to analyse that granular knowledge according to each user’s specific needs. That provides invaluable insights for risk evaluation during broking and underwriting, both at the policy and the portfolio level.”
Guillaume Bonnissent, Chief Executive, Quotech, added: “Having the right data in the right place is a fundamental need of commercial risk underwriters and brokers. Alongside its analysis, documentation, and market-management functions, the Quotech platform seamlessly compiles users’ own data with that of third parties.
“The addition of real-time global data from DisasterAWARE Enterprise, which covers the complete range of natural, man-made, and biological events, makes the tool even more powerful.”
“Whether customers are underwriters, brokers, actuaries, claims managers, or others in the risk sector, the power of Quotech to assess risks and support pricing, analyse portfolio exposures, source capacity, create audit trails, and manage authorities is dramatically enhanced through the data from DisasterAWARE Enterprise. We are now able to offer that powerful business advantage to all Quotech clients across the international re/insurance market.”