With almost 1 million loss records, Advisen expands its ability to respond to evolving client needs
NEW YORK, July 7, 2020 – Advisen, the leading provider of low frequency, high severity loss event data, has selected Origami Risk to streamline its collection, curation, and cataloging of proprietary loss data. As Advisen’s client roster of actuaries, data scientists, and enterprise risk management professionals demands more granularity and comprehensiveness, the partnership with Origami Risk will give Advisen greater flexibility in delivering the next generation of loss data services.
Loss modeling professionals rely on Advisen loss data to power predictive engines and drive portfolio analytics. As Advisen approaches one million records with a total loss value of over $3 trillion and which represents large loss events for more than 300,000 business entities, the migration to Origami’s digital risk platform will result in increased capacity to track complex loss events.
Scotti Ward, Advisen’s Senior Data Operations Manager responsible for Loss Data assets, explained, “After many years spent stretching the bounds of our internal system, I am excited to leverage the many advances Origami Risk has achieved in helping its clients track and manage millions of claims. Advisen’s data showcases economic loss events; a more robust data intake and management platform will expand our ability to deliver customized solutions for clients with unique needs.”
“By working in collaboration with our clients to develop specialized tools and new functionality that address their individual needs, we have consistently enabled our clients to gain efficiencies and boost overall performance,” said Bob Petrie, CEO, Origami Risk. “We’ve known Advisen through its many years in the marketplace and are delighted to form this service partnership.”
Advisen CEO Ron Adiel added, “We are pleased to engage with Origami Risk to achieve notable gains in data structure and data resolution. With a heightened ability to capture a wider selection of impactful loss events, we’ll better serve our clients’ needs in this rapidly evolving risk environment.“
Advisen is the leading provider of data, media, and technology solutions for the commercial property and casualty insurance market. Advisen’s proprietary data sets and applications focus on large, specialty risks. Through Web Connectivity Ltd., Advisen provides messaging services, business consulting, and technical solutions to streamline and automate insurance transactions. Advisen connects a community of more than 200,000 professionals through daily newsletters, conferences, and webinars. The company was founded in 2000 and is headquartered in New York City, with offices in the US and the UK. Visit www.advisenltd.com to learn more.
About Origami Risk
Origami Risk is a leading provider of integrated SaaS solutions for the risk, safety, and insurance industry—from insured corporate and public entities to brokers and risk consultants, insurers, third party claims administrators (TPAs), and risk pools. Highly configurable and completely scalable, Origami Risk delivers a full suite of risk management tools and insurance core system solutions from a secure, cloud-based platform accessible via web browser and mobile app. Visit www.origamirisk.com or contact Origami at [email protected].