SCM Insurance Services launches new company to offer better information tools

SCM Insurance Services has launched a new company to answer what it sees as increased industry demand for better business intelligence tools and enhanced access to risk information.

Opta Information Intelligence will provide underwriters, brokers, corporate risk managers and municipalities with access to risk information, as well as proprietary technology for analysis.

The new company will offer customized IT and software tools for insurance and risk-related needs, and has what SCM calls “the most comprehensive structured risk information property databases in Canada.”

Opta combines what was formerly the Information and Analytics division of SCM Risk Management Services and its SCMTech software division. It will include current industry products and services, such as iClarify Residential and iClarify Commercial, as well as Fire Underwriters’ Survey (FUS), HEIRS, X-Rate and others.

SCM reports that the majority of insurance companies, brokers and agents use the iClarify products for their sales and underwriting processes, while more than 90% of property and casualty insurers use FUS, the country’s only provider of municipal fire grades.

With its team of 30 full-time software developers, Opta will continue research and development for new IT products and services for the insurance industry.