Machine Learning Brings Rea-Time to Insurers

machine learning

OneShield’s clients can now use UrbanStat’s automated statistical and geographic modeling technology for machine learning.

OneShield Software has announced the integration of its cloud-based full-suite policy administration system with UrbanStat’s analytical and machine learning tools.

OneShield’s Enterprise clients can now access UrbanStat’s pre-built APIs to improve their risk management and predictive analytics capabilities. Users accessing the geo-analytics company’s APIs gain the ability to use hundreds of data points connected to weather, geography, emergency response and other factors.

OneShield Enterprise offers users real-time portfolio analysis and reporting tools to guide decision-making within finance, operations, and marketing departments. UrbanStat facilitates even deeper analysis to gain insights into underwriting and claims, both across the business and across regions in real-time.

“UrbanStat’s machine learning-driven pre-built risk management and analysis processes allow underwriters to make better decisions on risks in real-time,” says Jennifer Clark, OneShield’s Director of Alliances.

The company uses technology to rapidly accomplish virtually every geo-analytics use case, like risk concentration at the level of a book of business. Other uses include highlighting specific risks applicable to a particular location under consideration.

See also: Get ready for big data to modernize the insurance sector

“Teaming up with OneShield was an easy decision,” says Anil Celik, Chief Executive Officer of UrbanStat. “Not only is OneShield a proven software provider in the property and casualty insurance marketplace, we also share similar approaches to software design and scalability. While UrbanStat’s solutions are focused on helping underwriters make better-informed decisions, the geographic and ideal customer profile data generated during risk analysis can also help drive decisions made by marketing, actuarial, and claims departments.”

“We used OneShield Services Design capabilities to rapidly integrate UrbanStat’s services into our workflows,” says OneShield’s VP Engineering Rakesh Parikh, “which provided an excellent test case for our new framework that enables the building of custom services for B2B and B2C needs.”

Sue Walsh

About Sue Walsh

Sue Walsh is News Writer for RTInsights, and a freelance writer and social media manager living in New York City. Her specialties include tech, security and e-commerce. You can follow her on Twitter at @girlfridaygeek.

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