Percipience and Concirrus Partner to Expand Data Capabilities for Insurers
Percipience LLC, a leading insurance data and analytics platform provider has announced a new partnership with Concirrus, the leading artificial intelligence (AI) insurtech that is helping commercial insurance clients accelerate digital strategies.
This partnership has already led to the integration of the two companies’ complimentary software products, combining Percipience’s comprehensive insurance data and analytics platform with Concirrus’ big data and machine learning capabilities to provide an even more compelling value proposition for insurance organizations.
“Now more than ever, data and analytics need to be at the core of how insurers differentiate themselves in an increasingly competitive marketplace,” said Bruce F. Broussard Jr, managing director for Percipience. “Unfortunately, most insurers struggle to drive value from the data buried within all their applications. Data Magnifier puts insurers in control of their data by establishing a comprehensive data platform and delivering meaningful business insights. Our partnership with Concirrus adds AI analytics and digital capabilities to Data Magnifier, greatly increasing the power of the platform while also reducing the total cost of ownership.”
Percipience, named the Top Insurance Analytics Solution Provider by Insurance CIO Outlook in 2022, offers the only insurance data solution available on all major cloud and data platform offerings, including AWS, Microsoft Azure, Google Cloud, and Snowflake. Concirrus’ Quest delivers pricing and operating efficiency benefits. The Quest platform accesses and interprets wide-ranging datasets, combining them with submissions data, historical claims information to reveal the behaviors that correlate to claims. The results enable insurers and brokers to quantify risk more accurately, as well as reduce losses and boost profits. Quest also makes new, powerful, and differentiated product propositions a reality.
“Partnering with Percipience allows us to efficiently gather information from an insurer’s back-office platforms and provide a far more powerful and integrated technology solution,” said Andrew Yeoman, CEO at Concirrus.
“Data Magnifier greatly expands the data available for Quest to leverage in driving improved risk and claims management for our clients. We’re looking
forward to working with Bruce and the Percipience team to help our clients exploit their data assets.”
About Percipience LLC
Percipience is an insurtech data and analytics software provider, whose core-system agnostic Data Magnifier platform quickly transforms siloed data from multiple sources into a competitive advantage. Data Magnifier’s comprehensive integration, data management, and reporting components can be deployed on any cloud platform and database. Delivered with the detailed documentation of an in-house developed application, insurers have full control of the solution and are empowered to own their data. Percipience’s “start where you are” approach provides flexibility to preserve the investments made in existing assets and select only the Data Magnifier components needed to “fill in the blanks” for a comprehensive data platform. For more information, please visit www.percipience. com.
About Concirrus
Concirrus was founded on a passion to harness vast datasets to uncover insights that could create a more sustainable future for commercial insurance. Specifically built for commercial insurance by leading insurance practitioners and technologists, our suite of AI analytics and digital capabilities are empowering the market. Today, Concirrus is helping commercial insurance clients to accelerate their digital strategies. Our highly configurable datasets, AI analytics, cutting-edge risk modelling and cloud-based architectural solutions, allow clients to build enterprise-grade solutions that deliver ongoing value. Our goal is to enable you to unlock the value of your legacy systems, ensure your organization gets the most out of your data and to connect you with other players in the insurance value chain for optimal efficiency. For more information, please visit http://www.concirrus.ai.
