Insurwave, a London-based InsurTech platform, known for its expertise in assisting global businesses with complex insurance needs, has announced a new collaboration with UK-based insurance company Inigo.
Inigo’s decision to join forces with Insurwave stems from the latter’s cutting-edge technology and industry knowledge, aimed at helping Inigo establish and maintain a real-time overview of aggregate exposure across its portfolio.
This move comes amidst escalating geopolitical uncertainties and market volatilities, where having a comprehensive understanding of risk exposure is paramount.
Insurwave’s innovative SaaS platform offers features like live location tracking of assets through an interactive risk map.
This functionality enables insurers like Inigo to swiftly monitor and receive alerts on unfolding events worldwide, within designated and custom search zones. Such capabilities empower insurers to respond promptly and effectively to emerging risks.
Furthermore, the partnership sets a precedent for adopting a more efficient approach to exposure management within the insurance industry.
Insurwave’s platform facilitates the collection and aggregation of real-time risk data, aligned with policy terms and third-party data sources. Inigo also anticipates leveraging artificial intelligence and analytics capabilities on the platform to assess potential losses and provide proactive risk prevention services to its clients.
Chris Weller, Head of Exposure Management at Inigo Insurance, stated, “Our collaboration with Insurwave bolsters our vision to further develop Inigo’s data-driven exposure management capabilities, providing our Aviation War Underwriters with precise information at the point of pricing, through to live tracking of fleets. Insurwave’s platform gives us the tools to do that, and we look forward to collaborating in other areas as part of this partnership.”
Richard Archer, Insurwave’s Chief Strategy Officer, added, “The ability to not only understand your exposure, but also maintain a real-time view of your aggregations, has become a key requirement for the aviation insurance market in particular. We look forward to working with Inigo to help them extend their real time data tracking and to unlock new insights for proactive loss prevention and risk management services, as well as exploring what this could mean for other classes moving forward.”
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