Insurity
UnclaimedEmpowering P&C insurers and MGAs with configurable, cloud-native software for policy, risk, and audit management.
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TL;DR - Insurity
- Provides cloud-native P&C insurance software for policy administration, risk analytics, and premium audits.
- Automates regulatory compliance, processes high-volume policies, and offers real-time geospatial risk intelligence.
- Designed for scalability and efficiency, helping carriers and MGAs accelerate growth and reduce operational costs.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Handles extensive regulatory changes, reducing manual effort for compliance.
- Significantly speeds up policy processing and underwriting, improving cycle times.
- Provides advanced risk intelligence for better decision-making and exposure identification.
- Scalable architecture supports rapid launch of new programs and business expansion.
- Automates premium audits, leading to more accurate premium capture and efficiency.
Cons
- Specific pricing details are not publicly available, requiring a demo or direct inquiry.
- Primarily focused on the P&C insurance sector, which may not suit other insurance types.
Key Features
Policy administration from quote through issuance and post-issuanceReal-time geospatial risk intelligence and portfolio aggregation (SpatialKey)AI-powered automated premium audit processesManagement of 12,000+ regulatory changes annually across all 50 statesFull rating support with automatic calculations of taxes, fees, and surchargesHigh-volume policy processing for thousands of vehicles or propertiesAutomated notifications for events impacting portfolios to identify potential claimsPurpose-built platform for underwriting and reporting (Insurity Pro Suite)
Pricing
Paid
Insurity offers paid plans. Visit their website for current pricing details.
About Insurity
By Toolradar Team·
Insurity provides comprehensive, cloud-native software solutions specifically designed for the Property & Casualty (P&C) insurance industry, catering to carriers and Managing General Agents (MGAs). The platform addresses critical challenges such as managing regulatory changes, processing high-volume policies, assessing risk exposure, and automating premium audits. It offers a suite of tools including Policy Decisions for streamlined policy administration, SpatialKey for real-time geospatial risk intelligence, and Premium Audit for AI-powered automation of audit processes.
The platform is built for performance and scalability, enabling insurers to modernize operations, accelerate quoting, and achieve deeper rating transparency. It helps organizations reduce manual effort, mitigate risk, and drive profitable growth by providing a robust foundation for launching new programs and expanding into new lines of business. Insurity's solutions are trusted by top P&C carriers and MGAs for their ability to handle complex regulatory environments and large-scale demands.
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Insurity FAQ
How does Insurity address the challenge of managing thousands of regulatory changes annually?
Insurity's platform is designed to seamlessly handle over 12,000 regulatory changes each year across all 50 states. It provides bureau content support to over 125 carriers, ensuring systems stay up-to-date with regulatory requirements and reducing the time spent on manual updates by approximately 20%.
What specific capabilities does SpatialKey offer for risk assessment during catastrophic events?
SpatialKey provides real-time geospatial risk intelligence, allowing users to instantly locate impacted policies and prioritize response during CAT events. It enables more informed risk selection and pricing decisions with point-of-quote portfolio aggregations, offers context into portfolio performance, visualizes policy and claim locations, and sends automated notifications when events impact a portfolio to quickly identify potential claims.
How does the Policy Decisions system manage high-volume policy schedules and out-of-sequence endorsements?
Policy Decisions is built to process policies with thousands of trucks or locations in seconds, eliminating bottlenecks. It manages policies from quote through issuance and post-issuance, including complex out-of-sequence endorsements, which helps reduce IT time and costs associated with maintaining existing policy administration systems by up to 25%.
What benefits does Insurity Premium Audit provide for improving premium capture?
Insurity Premium Audit leverages AI-powered automation to streamline virtual audit processes. This allows insurers to find more premium faster by identifying what manual processes might miss, significantly reducing guesswork and legwork involved in audits. One customer reported shifting 50% of their audits to a virtual process using this solution.
What is the Andromeda Release and what new functionalities does it introduce?
The Andromeda Release is a significant update that brings faster quoting capabilities, real-time risk intelligence, and deeper rating transparency to the Insurity platform. It is designed to help insurers modernize their operations and compete with greater speed and precision in the market.
Which cloud providers does Insurity partner with to deliver its SaaS offering?
Insurity partners with best-in-class technology providers for its cloud infrastructure, specifically leveraging Microsoft and Amazon Web Services. These partnerships enable Insurity's cloud SaaS offering, ensuring continuous innovation and robust support throughout the policy lifecycle for its customers.
Source: insurity.com