Innovative commercial P&C and specialty market insurance software provider, AdvantageGo, has announced the launch of Exact Max, a new, powerful exposure management solution for global insurers and reinsurers.
The new solution enables re/insurers to both quickly and accurately visualise their entire treaty portfolio of billions of locations in real-time, utilising high-resolution location data, for the first-time ever, says AdvantageGo.
According to an announcement on the launch, Exact Max leverages insight from the company’s digital cloud based Microservices, meaning users can assess and aggregate each cedant’s portfolio in great detail, and at a macro-level, which includes map visualisations, year-on-year changes, and also peer benchmarking.
Adrian Morgan, Executive Vice President (EVP) and Head of AdvantageGo at NIIT Technologies, commented: “In order to thrive in today ́s competitive landscape, reinsurers need a progressive technology vision. Exact Max sets a new industry standard by enabling reinsurers to quickly and accurately examine their entire treaty portfolio of billions of locations.”
The software enables insurers and reinsurers to use sophisticated, on-demand multi-dimensional analysis, which the firm states promotes improved risk assessment at the point of underwriting, response to events, and also the streamlining of management exposures throughout the company.
Exact Max also identifies and manages accumulations of modelled and un-modelled risks across all cedants, anywhere on the planet, and in a proactive manner.
Vice President (VP) and Co-founder 5Fathom, partner for Exact Max, Lee McArthur, added: “To extract the maximum insight from exposure data, a treaty reinsurer should be able to analyse the risk to their portfolio from the regional level, down to the individual exposure. This involves complex scenario-driven analytics across billions of distinct locations. Historically, this type of high-resolution exposure analytics has proven to be such a technological challenge that not many in the industry have been able to achieve it without breaking the bank.”
AdvantageGo states that key business benefits of Exact Max, include: High volume location visualisations through a revolutionary graphics engine; analysis of the marginal impact from underwriting a new cedant’s business; real-time event notification service to large catastrophes; customised, dynamic dashboards monitoring multi-line global portfolios; aggregation across all cedant portfolios at every level from country and state right down to individual locations; and, analyse exposure location counts and data completeness for geography, occupancy, construction, primary and secondary modifiers.
