The word from Concirrus who have a new solution for the aviation sector;
Concirrus, a leader in intelligent insurance solutions, has launched a ground-breaking offering for the general aviation insurance market that has delivered underwriting productivity improvements of more than 400%. Quest Aviation increases efficiency for aviation underwriters while addressing increasing regulatory demands and complexity in the underwriting processes.
Aviation underwriters face the challenge of efficiently processing submissions while also accurately assessing risks. Studies reveal that up to 40% of their time is consumed by non-value-adding tasks, such as manual data entry and paperwork. Freeing up this time allows for strategic analysis and proactive risk management.
The Concirrus platform cuts submission time from hours to just a few minutes, allowing underwriters to focus on risk assessment and portfolio optimisation activities.
The Concirrus submission solution automates manual risk entry and leverages advanced data analytics, AI to improve accuracy and risk assessment, and automatically files attachments to create detailed risk records. By harnessing real-time data from diverse sources, the platform empowers aviation underwriters to make informed decisions, identify emerging risks, and proactively mitigate losses.
Andy Yeoman, CEO at Concirrus commented: “We recognise the critical importance of efficiency in underwriting and aviation is no exception. Quest Aviation is a game-changer, enabling aviation underwriters to achieve unprecedented levels of efficiency and effectiveness and we’ve seen the product have an immediate impact with customers.
When combined with our wider roadmap, which includes pricing, compliance, aggregation and portfolio capabilities, we believe that our one-stop-shop solution becomes a compelling offering for the market.”
Applied Aviation, a renowned leader in aviation insurance, is among the product’s early adopters.
Steven D. Allen, President at Applied Aviation, added: “We are thrilled to be using Concirrus’ innovative platform to streamline our underwriting processes. This technology has already proven to be invaluable in enhancing our efficiency and accuracy, allowing us to better serve our clients and stay ahead of the competition.”
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