Creating something big and meaningful
This passion to leverage technology in new and impactful ways led Concirrus to focus on supporting the insurance industry, and more specifically commercial marine and motor insurance. A potent blend of deep domain expertise and data science led to the creation of our big data and machine learning platform – Quest.
Quest, accesses and interprets wide-ranging datasets, combining them with historical claims information to reveal the behaviours that correlate to claims. The results enable insurers and brokers to more accurately quantify risk; reduce losses and boost profits. Quest also makes new, powerful and differentiated product propositions a reality.
Validating the hypothesis
Through our analytics work with leading London and Global insurers, we have proven that behavioural data is a better indicator of risk than traditional demographics. With every customer, we’ve delivered insights and new rating factors that simply did not exist before allowing increased profits, the ability to write more business with or without claims history, and reduced administration costs.
Find out more about Quest Marine and Quest Motor.