OneShield Software and UrbanStat Work Together to Improve Real-Time Analytics and Risk Decision-Making
Bill Sinn | August 29, 2018
In June 2018, OneShield Software announced the integration of analytical solutions from UrbanStat, Inc., into their OneShield Enterprise cloud-hosted, full-suite policy administration system. UrbanStat, an InsureTech “start-up” that offers automated statistical and geographic modeling technology, also provides hundreds of data points related to geography, weather, emergency response and other risk factors.
So, what does this partnership mean for insurers and risk managers today?
According to Vivek Gujral, OneShield’s CTO, it means greater insight into risk factors, along with the capability for faster – and more accurate -- decision-making. “By integrating with UrbanStat, our clients can take their risk analysis one step deeper to model and understand the impact on underwriting and claims – not only across their business but across geographies and regions in real-time,” said Gujral.
“Adding this level of analysis will offer deeper insights and predictive capabilities to their risk management practices,” he added.
One key factor in the partnership decision was UrbanStat’s development of well-defined API’s that can exchange data with other leading industry platforms. This helps drive seamless integration with insurers. In addition, UrbanStat’s solutions include claim prediction and pre-renewal risk analysis capabilities, real-time alerts to weather incidents and catastrophic events, as well as the ability to detect increasing amounts of customer accumulations in high-risk areas.
According to Nilgun Celik, CTO of UrbanStat, teaming up with OneShield was an easy decision. “Not only is OneShield a proven software provider in the P&C marketplace, we also share similar approaches to software design and scalability.”
Combined with real-time reporting and portfolio analysis capabilities provided by the OneShield Enterprise platform, this new, fully integrated solution can empower finance, operations, and marketing to make real-time decisions.
“It’s a win-win for the insurance industry and one that we’re proud to be a part of,” added Gujral.
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