Specialist insurer to integrate data enrichment technology to improve underwriting and claims activities
Chicago, IL (Jan. 22, 2020) – CFC, the specialist insurance provider and pioneer in emerging risk, today announced that it has acquired ThreatInformer, a London-based InsurTech.
Leveraging a combination of big data and machine learning, ThreatInformer’s data enrichment technology helps insurance companies better understand their customers’ exposures by compiling readily-available information about their risk profile from a variety of external sources.
By integrating ThreatInformer with its own suite of proprietary technology, CFC will continue to streamline and improve key activities in the underwriting process as well as uncover patterns in claims data to help predict and prevent client losses.
“Putting technology and data at the heart of everything we do is what sets CFC apart and is critical to staying competitive in today’s market,” said Dave Walsh, CFC CEO.
Bringing ThreatInformer’s unique technology in-house was a natural next step for us and builds on a number of exciting projects already underway.
Dave Walsh, CEO
CFC recently announced the latest version of its cyber insurance platform, which offers brokers the ability to generate a comprehensive cyber quote with just a single piece of data.
“Our new cyber platform is just one example of how CFC are using data in innovative ways to vastly improve the process of buying and selling insurance,’ continued Walsh.
ThreatInformer is CFC’s second acquisition in the past six months, following the company’s acquisition of incident response firm Solis Security. Both deals seek to expand CFC’s technical capabilities in key areas of underwriting and claims handling.
CFC is a specialist insurance provider and a pioneer in emerging risk. With a track record of disrupting inefficient insurance markets, we use proprietary technology to deliver high-quality products to market faster than the competition while making it easier for brokers to do business. Our broad range of commercial insurance products are purpose-built for today’s risks, and we aim to give our customers everything they need in one, easy-to-understand policy.
We’re on a mission to radically simplify the way business insurance is bought and sold. To do that, we challenge assumptions, innovate constantly and use technology to drive change in our markets.
Headquartered in London and backed by Lloyd’s, CFC serves more than 70,000 businesses in more than 80 countries.
For more information, visit www.cfcunderwriting.com.
SOURCE: CFC UnderwritingTags: Acquisition, CFC Underwriting, InsurTech