Percipience, an insurance data and analytics platform provider, has partnered with AI-powered InsurTech Concirrus to expand data capabilities for insurers.
Percipience is an InsurTech data and analytics software provider, whose core-system agnostic Data Magnifier platform quickly transforms siloed data from multiple sources into a competitive advantage.
Concirrus was founded on a passion to harness vast datasets to uncover insights that could create a more sustainable future for commercial insurance.
The partnership has already led to the integration of the two companies’ complimentary software products, combining Percipience’s comprehensive insurance data and analytics platform with Concirrus’ big data and machine learning capabilities to provide an even more compelling value proposition for insurance organizations.
Bruce F. Broussard Jr, managing director for Percipience, said, “Now more than ever, data and analytics need to be at the core of how insurers differentiate themselves in an increasingly competitive marketplace.
“Unfortunately, most insurers struggle to drive value from the data buried within all their applications. Data Magnifier puts insurers in control of their data by establishing a comprehensive data platform and delivering meaningful business insights. Our partnership with Concirrus adds AI analytics and digital capabilities to Data Magnifier, greatly increasing the power of the platform while also reducing the total cost of ownership.”
Andrew Yeoman, CEO at Concirrus, said, “Partnering with Percipience allows us to efficiently gather information from an insurer’s back-office platforms and provide a far more powerful and integrated technology solution.
“Data Magnifier greatly expands the data available for Quest to leverage in driving improved risk and claims management for our clients. We’re looking forward to working with Bruce and the Percipience team to help our clients exploit their data assets.”
Earlier this year, Thailand-based B2C InsurTech startup Roojai closed its Series B funding round on $42m.
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