Business Insight has signed an agreement with Insurance Initiatives to supply its latest suite of Perils Insight models via the Insurance Initiatives data enrichment Hub at building level.
This presents an exciting opportunity for insurers to utilise the latest technology and access the full range of the best available databases relating to credit risk, claims validation, fraud assessment and ID verification, alongside perils risk assessment data at the point of quotation.
Read press release here: Press Release – Business Insight partners with Insurance Initiatives
With gender set to disappear from the underwriting landscape at the end of 2012, what factors will insurers turn to when accessing risk?
The Post discuss the new genderless rating environment and how insurers are working frantically to adjust the way they price their risks. Mark Harrison, our MD, is quoted.
Read More here: Post Magazine Article 2 February 2012
Business Insight, innovators in Insurance Risk Modelling & Market Analysis, will now be based in Olympus Court, Warwick.
The company hopes that the new location will allow it to attract graduates from nearby universities, and to enhance and widen its existing product suite.
Read article here: BI moves to Warwick offices 291012
Business Insight is delighted to announce that Dr. Alan McLachlan will be joining the team as Analytics Technology Principal to support the further development of its risk assessment product suite.
Alan is a highly experienced analytics and technology specialist and previously worked in a senior consulting role for Vodafone and before that in a number of senior roles at blue chip companies. Prior to that, Alan worked in academia as a research fellow studying Quantum Theory and he holds a PhD in Physics, an MSc in Neural Computing as well as achieving a first class Physics degree.
Read press release here: Press Release – Business Insight hires Analytics Principal 120912
Data sharing among insurers offers a range of benefits – but could firms’ desire to retain a competitive edge hamper such collaboration?
With an increasing amount of data available to insurers to help combat fraud, underwrite appropriately and improve claims handling, the question of how information should be used has never been more pertinent.
Read Article here: Post Magazine 8-11-12
Europe-based Groupama Insurances has invested in Freeze Insight, a new computer model that predicts the relative risk of freeze related claims across the UK.
Freeze claims in the UK during the winter of 2010/2011 are estimated to have cost the insurance industry £1.4bn.
The model has been developed by technology firm, Business Insight, and is based on 100 million historic temperature records, 26 million properties and 1.7 million postcode locations.
Read Article here: Groupama Insurances select Business Insight’s Freeze model
Ecclesiastical Insurance Group has licensed a new computer model from technology provider Business Insight that predicts the risk of subsidence claims being incurred across the UK.
Read more here: Ecclesiastical adopts new subsidence risk model
Business Insight estimates freeze related property claims will exceed £200 million in 2010 based on work carried out in constructing its new computer generated Freeze Insight model.
Burst pipe claims during freezing spells are a major source of loss to the insurance industry and in 2010 there was a surge in claims in the first quarter as the UK experienced its coldest winter for 40 years.
Read more: Press Release – Freeze related property claims likely to top £200 million in 2010
Fortis Insurance UK, now called Ageas, has invested in a new suite of computer models from technology provider Business Insight that are designed to predict the relative risk of claims for a number of insured perils across the UK.
Read more here: Insurance Age Article
Business Insight has hired Dr Christine Donovan as a Senior Analytics Consultant to support the development of the Perils Insight risk models.
Christine is a highly experienced analytics specialist and previously worked for CACI in a senior consulting role and before that in a number of senior roles at blue chip companies. She has a PhD in Statistics and has an in-depth knowledge of analytical modelling within the financial services sector.
Read more here: Press Release – Business Insight hires Senior Analytics Consultant 040510