Insurtechs companion to simplify industrial insurance coverage

Digital transformation firm Sutherland has entered a partnership with Daring Penguin, a digital platform to simplify industrial insurance coverage.

The partnership will enable the businesses to speed up digital transformation in buyer acquisition, new enterprise and underwriting for the industrial insurance coverage sector, Sutherland mentioned.

Underneath the partnership, Sutherland’s AI-based underwriting ecosystem will combine with Bold Penguin’s analytics capabilities. The mixed capabilities of the businesses will ship higher-quality information to underwriters, rising productiveness, velocity to market and decision-making, Sutherland said.

Sutherland’s Direct Coverage Acquisition ecosystem additionally compliments Daring Penguin’s Change and Terminal platforms, which is able to cut back the time it takes to cite and bind industrial insurance coverage.

The partnership will enable industrial insurance coverage carriers to cut back the price of new and renewal enterprise, enhance underwriting high quality, and speed up the transition to straight-through processing (STP) underwriting, Sutherland mentioned.

“Infusion of Daring Penguin’s industry-leading platforms and information expands our automation and AI ecosystem for industrial insurers, making the advantages of AI extra accessible than ever earlier than,” mentioned Vijay Pahuja, senior vice chairman and head of analytics at Sutherland. “It would enable our shoppers’ underwriters to rapidly make clever, extra proactive danger evaluation choices.

“This partnership combines our sturdy suite of expertise transformation and digitization options and a long time of purposeful experience in industrial insurance coverage with Daring Penguin’s modern options for submissions information enrichment, high-quality prospecting, and quoting, permitting us to collectively remodel the industrial insurance coverage panorama.”

“Daring Penguin brings a wealth of experience serving to carriers effectively distribute their digitally enabled merchandise to brokers and brokers in assist of tens of millions of small enterprise house owners yearly,” mentioned Jim Struntz, chief working officer at Daring Penguin. “Our group is happy to additional serve an {industry} we’re enthusiastic about as we mix Daring Penguin’s digital quote-to-bind and analytics platforms with Sutherland’s AI-powered enterprise operations in assist of a streamlined industrial underwriting course of.”

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