Mapping data has evolved over the past few years and now offers some highly detailed insights for insurers, as regards pricing risk, assets parked or located within the grounds, commerical use and more. It makes first time quoting and renewal pricing that bit easier if you have plenty of info to examine.
Now Quotech and Tensorflight have formed a new partnership to bring powerful intelligence into insurance-market systems in real time, and to deploy that data effectively alongside the customers’ own.
Quotech is the underwriter-led, Convex-backed developer of truly useful, properly integrated technology platforms for underwriting and broking teams. Tensorflight is a pioneering data company that leverages the power of AI and machine learning to process high-resolution property-risk data exclusively for the property insurance sector.
Data streams supplied by Tensorflight originate from ground-level, satellite, and aerial imagery, providing nearreal-time information for the inspection of buildings anywhere in the world, without the cost of on-site surveyors. Processing via Tensorflight’s “convolutional neural network” delivers accurate buildings data ranging from reliable geolocation to square footage, building materials and conditions, and even roof pitch. Connected to Quotech platforms via API, the partnership delivers an invaluable tool for assessing individual and aggregate exposures.
“Our new partnership program allows us to place our rich, powerful property-risk data into the hands of underwriters more effectively. The knowledge we deliver through Quotech lets them make better-informed decisions, and create the most appropriate coverage,” says Tensorflight CEO Jakub Dryjas. “Quotech’s unique place in the market – as a systems and data supplier that is run by an underwriter – further strengthens our commitment to enhancing the underwriting process.”
Guillaume Bonnissent, Chief Executive, Quotech, said: “The world is awash with data. Even wading through the various data sources can be a stultifying task – let alone parsing the data itself. But to operate efficiently and effectively as an underwriter, it’s essential to have appropriate, high-quality data in the right place at the right time. Our dual roles at Quotech are to provide intuitive systems which deliver data in that way, but also to curate from the vast number of data streams out there to offer our clients the best of what’s now available to fuel their systems and give them an underwriting upper hand. Tensorflight is one of those superior data sources.”
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