Insurwave has relaunched its risk platform with new applications for insurers, brokers and fleet owners, combining live risk data, AI and specialist third-party intelligence to provide continuous assessment of marine and aviation exposures.
The updated platform currently includes Track & Cover, which provides a live view of assets and their insurance cover, and Risk Intelligence, which analyses submissions using real-time and historical data to produce a risk score.
Two further modules, Portfolio Impact Analysis and Continuous Intelligence, are scheduled to follow later this year. The former will allow users to assess how an individual risk affects aggregate exposure before capital is committed, while the latter will continuously re-score bound business as events and risk conditions change.
The platform draws on data from Lloyd’s List Intelligence alongside aviation data services and other live and historical risk data. Insurwave says users will also be able to interrogate the data using natural language to understand what has changed, why a risk has moved and what that means for their business.
Responses are generated within each customer’s cloud environment using customer data and licensed data feeds. Insurwave says customer data remains under their control and is not pooled with other customers or used to train third-party AI models.
“Risk does not stand still. Assets move, airspace closes, conflict zones shift, and sanctions change, yet much of the insurance market still relies on point-in-time models, reports and spreadsheets,” said Adrian Morgan, CEO of Insurwave.
“Dynamic risk needs a dynamic layered view, and the information used to price, place and manage it has to keep pace.”
