Insurwave, an insurtech platform, has recently announced its new partnership with speciality re/insurer, Inigo.
In this collaboration, Inigo will utilise Insurwave’s advanced technology and industry knowledge to establish and maintain a real-time summary of total risk exposure across its portfolio. This is particularly crucial given the escalating geopolitical uncertainty and market turbulence.
By leveraging Insurwave’s live location tracking of assets on an interactive risk map, Inigo gains seamless access to monitoring and alerts on global events as they happen. This feature includes designated and customisable search zones, enabling Inigo to respond swiftly and decisively to emerging situations.
Richard Archer, Chief Strategy Officer at Insurwave underscores the value of Insurwave’s technology in data tracking and risk management. He emphasises, “The ability to not only understand your exposure, but also maintain a real-time view of your aggregations, has become a key requirement for the aviation insurance market in particular.”
“We look forward to working with Inigo to help them extend their real time data tracking and to unlock new insights for proactive loss prevention and risk management services, as well as exploring what this could mean for other classes moving forward,” Archer adds.
Moreover, Inigo has the potential to integrate artificial intelligence and analytics onto the platform, enabling comprehensive analysis of potential losses and provision of risk prevention support for its clients.
Chris Weller, Head of Exposure Management at Inigo Insurance comments on the partnership: “Our collaboration with Insurwave bolsters our vision to further develop Inigo’s data-driven exposure management capabilities, providing our Aviation War Underwriters with precise information at the point of pricing, through to live tracking of fleets. Insurwave’s platform gives us the tools to do that, and we look forward to collaborating in other areas as part of this partnership.”
By Inigo using Insurwave’s software as a Service (SaaS) platform, it sets a new standard for other syndicates, encouraging them to adopt a more efficient approach to exposure management.
