Concirrus launches next generation line-agnostic decision platform

Marine and automotive insurance company Concirrus has introduced its next generation platform for the IOT-powered insurance market. This new offering will allow insurers to accelerate their transition to new digital operating models, create new products and drive cost savings irrespective of business line.

“We are headed to a future where all risk will be assessed algorithmically and traded digitally. Many insurers have the ambition to deliver innovative products to their customers, improve loss ratios, reduce operating expenses but are held back by legacy platforms and technology. Concirrus has built the next generation decision platform to help insurers capture the value of data available from the Internet of Things (IOT).” – Andrew Yeoman, CEO of Concirrus.

With the new technology offering, Concirrus can help businesses:

• Digitize and enrich their knowledge using a wide range of IOT datasets.
• Build AI models to analyze risk and derive powerful predictions across lines of business.
• Optimize critical processes from risk to capital and from underwriting through claims using a unique set of API-driven microservices that can be embedded into customer workflows.

Leading the go-to-market charge will be Scott McConnell, who has been appointed as Chief Commercial Officer. Commenting on his new role, Scott says: “I’m incredibly excited to be joining Concirrus. The combination of the potential of this new solution Concirrus has to offer and the strength of its investors and leadership team presented an exciting opportunity for me and I’m looking forward to expanding our customer and partner relationships globally. Fundamentally, we want to enable insurance companies to take advantage of AI, machine learning and data analytics and deliver true competitive advantage.”