Opta Information Intelligence, an SCM Company, and Clyde Analytics announce strategic partnership to deliver Peril-based scoring to the Canadian Property & Casualty Market
March 14, 2014 by SCM Insurance Services
Toronto, March 17, 2014 – As the next step in the evolution of property insurance analytics, Opta Information Intelligence (“Opta”), the creators of iClarify, along with Clyde Analytics (“Clyde”) have formed a partnership to deliver cutting-edge risk assessment solutions for properties across Canada to the insurance industry.
Opta is the premier underwriting property data aggregator in Canada and has successfully entered the predictive modelling space with new peril-based risk scoring models. Peril Score is a powerful and unique tool that provides the ability to predict the likelihood and magnitude of a loss down to a specific property address. It is designed to augment current information and processes employed by insurers to help them more effectively underwrite and rate properties by providing a better understanding of the risk as it relates to specific loss perils.
Clyde Analytics provides a full service software platform, combining an easy to use interface with the technical flexibility to meet the needs of customers and help them achieve their corporate objectives. Clyde supports the industry by advancing analytical sophistication and achieving greater levels of successful adoptions and associated business benefits from predictive modeling initiatives.
“We have been able to increase our development speed and enhance the strength of our Peril Score Models through our partnership with Clyde Analytics” states Greg McCutcheon, President of Opta Information Intelligence. “The power of our teams working in partnership from a data and application platform perspective is a winning combination for us and our customers.”
“Opta is a clear leader in the property data and intelligence space. Opta’s commitment to continually invest in growing their data assets and transforming raw information into valuable insights is commendable. Our partnership with Opta is a perfect complement to Clyde’s desire to push data innovation, accelerate the adoption of advanced analytics, and realize the business benefits of analytical initiatives by the industry” shares Marlowe Leibensperger, Managing Director of Clyde Analytics.
With Opta’s new Peril Score, insurers are empowered to enhance the risk dissemination of underlying properties, improve rate precision and underwriting assessment/selection, and protect themselves from anti-selection. For more information about Opta’s new Peril Score tool, please contact:
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Opta Information Intelligence provides Canada’s insurance and corporate industries with tools to manage and authenticate risk information, in turn helping them become more competitive, generate business, and gain the insight required to make profitable business decisions. Visit www.optaintel.ca to learn more.
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