Insurers Leveraging Emerging Tech, Analytics, Third-Party Data in Loss Control: Novarica

Boston, MA (June 18, 2019) – Carriers are transforming the traditional back-office loss control function by coupling emerging technologies with modern loss control platforms. IoT devices, wearable technologies, and tools that leverage images (e.g., drones), are creating real-time risk management and insight. Traditional loss control platforms are also beginning to take advantage of third-party data and analytics.

In a new report, Loss Control: Overview and Prominent Providers, research and advisory firm Novarica provides an overview of loss control platforms and emerging tech solutions.

“Emerging tech solutions powered by data from IoT or imagery solutions have begun to augment the impact loss control organizations can have on real-time loss prevention,” said Deb Zawisza, Vice President of Research and Consulting and author of Novarica’s new report. “While emerging tech solutions do not fully replace the capabilities of more traditional loss control systems, organizations can combine the two to enhance functionality and broaden the reach of traditional systems.”

A preview of the brief is available online.

This brief provides an overview of loss control platforms and emerging tech solutions. It also profiles traditional providers like AuSuM Systems, EXIGIS, IMTI Systems, InsuraTek, Mindtree, Nexus Insurance Solutions, PremiumWare, Risk Control Technologies, and Utilant as well as emerging providers like 360GlobalNet, Augury, CoreLogic, The Detection Group, Flow, Gleason, Librestream, MākuSafe, OneEvent, Roost, Sensitech, Triple+, and WeGoLook.

Click here for the table of contents or to access the report.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.

Source: Novarica

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