- PRA and FCA consults on expectations for the management of financial risks from climate change
- AIR Worldwide estimates industry insured losses from Hurricane Michael at $6bn to $10bn
- LMA’s satellite imagery and intelligence service speeding up assessment and payment of Hurricane Florence and Michael claims
- US P&C insurers more than double first half after tax net income
- Nine insurance associations across the world write jointly to IASB to suggest a two year delay needed to implement IFRS 17 successfully
- IUA reports increase of 16% to £26.314bn in gross written premiums for 2017
- UK Comprehensive car insurance premiums rise 1%-Brexit might delay Civil LIabilities Act introduction expired
- ACORD announces the winners of the 2018 ACORD InsurTech Innovation Challenge(AIIC) expired
- 2018.2 release of Guidewire InsurancePlatform announced expired
- Treaty reinsurance goes live on PPL to complete class roll out expired
- Ardonagh to sell Direct Group's claims business to Davies Group expired
- Ergo Group to sell its Russian life book to Rosgosstrakh expired
16th May 2018
NIIT Technologies AdvantageGo launches 10 pioneering Microservices to enable insurers and reinsurers to fuse traditional with digitisation-with an emphasis on risk mitigation
AdvantageGo, the innovative commercial insurance and reinsurance software product family from NIIT Technologies, has launched 10 pioneering Microservices which augment decision-making and help insurers and reinsurers to quickly reduce cost and proactively manage risk.
AdvantageGo’s range of Microservices, including Peril Score, Events Service and Asset Tracking, harness a vast array of curated up-to-the-minute intelligence from leading data providers and Internet of Things(IoT), to distil personalised and powerful insights.
Utilising proactive notifications and real-time alerts, the Microservices help insurers and reinsurers around the world understand risk in a way that has never been possible before, opening up the possibility of true risk mitigation.
Built on a cloud-based platform, the system-agnostic Microservices help to fuse the traditional with digital. As well as enhancing the performance of AdvantageGo’s core solutions, the Microservices seamlessly, swiftly and independently integrate with existing third-party software, enabling insurers and reinsurers to evolve towards a more flexible IT landscape.
Adrian Morgan, evp and head of AdvantageGo at NIIT Technologies, comments “Upgrading technology is the number one concern for insurance and reinsurance professionals. Through extensive use of instantaneous, highly-automated data sources, commercial (re)insurers can easily and quickly achieve greater control over their entire book of business by receiving contextual analytics at the point of decision-making.”
Insurance Newslink dropped into NIIT's London office yesterday to discuss the Microservices development with Morgan and colleagues. Morgan said that the insurance and reinsurance sector is one of the last to move to digitisation and NIIT were providing a quicker route to apply InsureTech solutions, with a specific emphasis on mitigation of risk, a major challenge across P&C business worldwide. He added that InsurTech solutions were an opportunity rather than a threat, which the insurance market cannot afford to ignore. NIIT with over 10,000 employees, have a deep domain experience of digitisation development such as artificial intelligence, robotics, and the Internet of Things(IoT), and the equally essential long term knowledge of the insurance and reinsurance world and its mindset. Insurance Newslink will be keeping a close watch on NIIT's progress.
NIIT Trends(12 articles)