Insurtech agency Concirrus has launched a brand new platform for an IoT powered insurance coverage market. The corporate stated the platform was designed to assist insurers speed up their transition to new digital working fashions, create new merchandise and drive price financial savings.
Concirrus says the providing will assist companies digitise data utilizing a variety of IoT datasets and construct AI fashions to analyse threat and derive predictions throughout traces of enterprise. Customers will even have the ability to optimise important processes utilizing a novel set of API-driven microservices that may be embedded into buyer workflows.
“We’re headed to a future the place all threat can be assessed algorithmically and traded digitally,” stated Concirrus CEO Andrew Yeoman.
“Many insurers have the ambition to ship progressive merchandise to their prospects, enhance loss ratios, scale back working bills however are held again by legacy platforms and know-how. Concirrus has constructed the following technology choice platform to assist insurers seize the worth of knowledge obtainable from the IoT.”
With its new know-how providing, the insurtech goals to assist companies to digitise and enrich their data utilizing a variety of IoT knowledge units. It plans to construct synthetic intelligence fashions to analyse threat and derive highly effective predictions throughout traces of enterprise.
As a part of Concirrus’ growth technique, the corporate has additionally lately opened a brand new US workplace to assist it additional construct relationships with key prospects within the North American market.