Analytics and data-enabled solutions provider CoreLogic has announced the addition of Myriad Development’s automated underwriting platform which will be combined with CoreLogic property data to create an enhanced tool for speedy and cost-efficient underwriting.
CoreLogic said Myriad platform users have experienced between four-to-seven times return-on-investment due to cost savings from fewer physical inspections required, reduced labour costs, loss-cost avoidance and other process efficiencies that resulted in bottom-line savings.
“Myriad shares the CoreLogic commitment to help our industry evolve to meet rapidly changing consumer expectations in our digital economy.”
“Our combined solution will help carriers set a new benchmark for underwriting efficiency and accuracy while enabling an easy and transparent customer and agent experience,” said Steve Brewer, executive, CoreLogic Insurance and Spatial Solutions.
The SaaS-based platform offers users a faster underwriting process with less dependency on internal technical resourcing – enabling greater efficiency and cutting costs to carriers.
Chris Roussel, CEO, Myriad Development, commented this union ideal will “transform the process, cost and timing of today’s underwriting, resulting in a quantifiable, bottom-line result for our clients.”
As part of the deal, CoreLogic will add Myriad’s data on location, structure, environment, occupant and property imagery to its database to create a comprehensive tool for risk assessment and underwriting.
