Cambridge, MA (Apr. 26, 2022) – InsurTech startup ennabl and data classification specialist Relativity6 have signed a partnership allowing insurance brokers to utilize Relativity6’s revolutionary search and classification technology to identify accurate customer industry classifications from within ennabl. Instead of looking through out-of-date and static company databases, Relativity6 empowers ennabl users with machine learning technologies to get the best information about their customers and give them tailored insurance advice.
Knowing which industry a company works in can be difficult to ascertain, but is critical information for insurance brokers to recommend the right types of coverage to their clients and develop highly profitable niches. Most brokers face serious challenges in this area, as the information in their systems is typically old, incomplete, or simply wrong.
Instead of building large, rapidly obsolete databases of business classifications, Relativity6 takes a unique approach to this problem, training machine-learning technology to scan publicly available information about a business, including websites, reviews, press releases, and social media, and identify the best industry classification in real-time. Insurance brokers using the ennablDATA platform can now seamlessly leverage Relativity6 to enhance their knowledge of all customers and prospects.
Alan Ringvald, President and CEO at Relativity6 said “Accurately categorizing small business is absolutely critical for insurance brokers to best serve their clients. Our partnership with ennabl will allow insurance producers to use Relativity6 to improve their relationships with their clients.”
ennabl was founded on the belief that insurance brokers spend too much time and money across disjointed systems entering and correcting data. ennabl’s mission is to allow insurance professionals to get out of the data entry business and focus on their most critical assets: Their customers.
Kabir Syed, CEO of ennabl stated “We’re thrilled to be working with a truly cutting-edge company like Relativity6. ennabl is the only company in the InsurTech industry to offer this revolutionary method to improve the accuracy of customer information”
With this partnership, ennabl becomes one of the fasting growing providers of data and growth solutions for the insurance industry. This partnership expands the reach of ennabl’s platform, broadening its services and providing access to the world’s largest network of data.
Relativity6’s AI platform retrieves up-to-the-second information about a business to automatically detect its 6-digit NAICS code and verify its existence. Relativity6 is the fastest and most accurate NAICS detector on the market, improving commercial underwriting workflow and overall business classification and segmentation. Relativity6 is backed by Fin VC, State Auto Labs Fund, and Vectr Ventures. For more information, please visit www.relativity6.com.
ennabl was created by Kabir Syed, founder, and former CEO of RiskMatch, and former managing director at Marsh. Syed brought together a world-class team of engineers, data experts, interface designers, and industry veterans to build a platform that will totally transform the way insurance brokers conduct business. With this tool, brokers will spend less time keeping data current and more time focusing on their clients’ experiences, improving their bottom line.
Source: Relativity6Tags: InsurTech, InsurTech Spotlight, partnership, Relativity6, startup