AIR and FirstBest integrate products
AIR Worldwide is set to integrate its catastrophe modelling solution with FirstBest Systems underwriting management system.
The collaboration between the two organisations allows data and analytics on commercial risk to be incorporated into the commercial lines underwriting workflow of property/casualty insurers.
The solution will integrate AIR’s catastrophe modelling and non-catastrophe analytics from its Touchtone platform with FirstBest UMS, an underwriting workstation, to incorporate risk analytics in one comprehensive underwriting decision process.
“Traditional underwriting and policy systems are not designed to handle fluid, detailed, and rules-driven risk assessment analysis at the point of decision,” said John Belizaire, chief executive officer (CEO) and founder, FirstBest Systems. “Access to informative catastrophe data is a key determinant of exposures in intelligent underwriting, especially for complex risks. The AIR/FirstBest integration allows for up-front portfolio analysis and management in real time, and our combined solution facilitates individual account analysis before binding risks.”
Bill Churney, chief operating officer of AIR Worldwide, added: “By delivering risk analytics directly to the point of decision on the underwriter’s desktop, FirstBest and AIR assist underwriters to make better decisions, increase competitive advantage, and build a better book of business. Bringing a more complete view of risk — both catastrophe and noncatastrophe — into the mainstream of account underwriting is an important step in the evolution of underwriting and helping companies to own their risk.”