Combination of SpatialKey and iPartners capabilities delivers greater insights to insurers for faster and more informed risk decisions
iPartners, the award-winning provider of Business Intelligence (BI) Software-as-a-Service (SaaS) solutions to the property & casualty (P&C) insurance industry, is pleased to announce a strategic partnership with SpatialKey, a leader in insurance analytics and visualization. This partnership combines iPartners’ and SpatialKey’s complementary expertise and technologies to help P&C insurers quickly access and analyze their data, and accelerate risk decisions.
Recent catastrophes have reinforced the need for insurers to proactively manage their risk and make quick and effective decisions. To meet the challenge, insurers need to efficiently analyze and better understand risk – a task that is extremely complex and time consuming when combining large volumes of disparate policy and claims data, hazard information, and other third party data.
The iPartners/SpatialKey partnership delivers an integrated solution which combines iPartners’ policy and claims data warehouse and SpatialKey’s visualization and risk intelligence solutions. With this, iPartners can offer rich, visual intelligence to evaluate, understand, and monitor insured concentrations. iPartners will also deliver base maps to clients with the ability to add third party data to further enhance risk analysis.
“We are excited about our relationship with SpatialKey, in part, because it gives us the ability to provide our clients much more than basic mapping with SpatialKey providing advanced spatial analytics and visualization functionality,” Bob Lasher, President and CEO of iPartners.
“Our business intelligence and data warehousing solution is built on an easy-to-use, self-service environment for analytics. With SpatialKey we can now offer our users the ability to map risks with that same ease-of-use. Location intelligence creates value by providing timely response to CAT events, what-if scenarios, portfolio impact analysis and risk selection.”
Lasher continued, “The integration of SpatialKey’s capabilities with the iPartners solution continues our focus on enabling our insurer clients to enjoy the business benefits of an interactive, intuitive and powerful combination of data, business intelligence, analytics --- and now, location intelligence.”
Tom Link, CEO of SpatialKey, added, “iPartners’ business intelligence and data warehouse solution offers quick, seamless access to the right intelligence when you need it. The combined iPartners/SpatialKey offering can help insurers efficiently turn that intelligence into action through accelerated decision making and the proactive calibration of risk management strategy.”
To assess the quality and business value of the combined solution, iPartners offered the solution to a group of its clients for testing, evaluation, and feedback. Commenting on their role in the client testing and feedback process, Andre J. Nieuwendam Sr., Director of Information Technology, UPC Insurance, said, "UPC Insurance recently completed beta testing of the SpatialKey Insurance Intelligence solution with iPartners. iPartners did a great job of integrating our data, and provided training to our management staff so we could fully test the product. The beta worked seamlessly, and we are looking forward to seeing the value that Spatial Key will bring to our business going forward."