Addresscloud – a cloud-based location intelligence platform – has announced that it has entered into a new partnership with insurance software company Acturis.
The two have teamed up to provide real-time risk data, via their bespoke intelligence API, to users, a release said.
Acturis created an integration to the Addresscloud API from each of the various products the latter facilitates transactions for. Once a risk address is validated by Acturis, Addresscloud will add to the data with peril scores and other risk attribute details through the API.
Thanks to the integration of both insurance analytics companies, underwriters can access address-level peril risk scores for flood, subsidence, windstorm, fire and crime. They can also refer to a full set of residential and commercial attributes at point of quote, which allows them to make better informed decisions on insurance pricing, as well as determine the eligibility of products traded on the platform.
“Acturis is recognised as being one of the leading software houses in the UK,” said Addresscloud founder and CEO Mark Varley. “This partnership will allow us to demonstrate the power of our real-time intelligence data to some of the biggest insurers in the country.”
Varley added that, thanks to the integration, Addresscloud customers can use services without having to develop new integrations, reducing their time to deploy products.
“Customers increasingly expect more from their data in order to make better informed decisions on risk pricing and acceptance,” commented Acturis commercial product manager Simon De Ferry. “Having peril data available in real-time, at point of quote is a powerful benefit to customers and supports them to quickly develop and deploy profitable products that meet their customers’ needs.”
Read more: Flood Re taps Addresscloud tech
Earlier this year, Addresscloud was tapped by Flood Re to develop a “Property Data Hub” that would offer property-specific information to insurers, allowing them to identify which properties fall under Flood Re’s scheme.
