- Newslink Global Insurance Trends-The Week
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- FCA and The Pensions Regulator(TPR) launch a joint regulatory strategy
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- Applied Systems announces investment from CapitalG bringing access to Google expertise across artificial intelligence, machine learning, and digital marketing expired
- Greenlight Re Innovations makes third investment-in South Africa-based digital insurance platform Click2Sure expired
- RMS estimates insured losses from Hurricane Michael at $6.8bn to $10bn expired
- Insurance Australia Group(IAG) licenses the RMS High Definition New Zealand Earthquake Model expired
- AXA XL receives authorisation in principle to move its EU insurance company, XL Insurance Company SE, from the UK to Ireland expired
- Hannover Re completes fifth catastrophe bond transaction for clients this year- raising the total issuance volume to $1.5bn in 2018 expired
16th May 2018
NIIT Technologies AdvantageGo launches 10 pioneering Microservices to enable insurers and reinsurers to fuse traditional with digitisation-with an emphasis on risk mitigation
AdvantageGo, the innovative commercial insurance and reinsurance software product family from NIIT Technologies, has launched 10 pioneering Microservices which augment decision-making and help insurers and reinsurers to quickly reduce cost and proactively manage risk.
AdvantageGo’s range of Microservices, including Peril Score, Events Service and Asset Tracking, harness a vast array of curated up-to-the-minute intelligence from leading data providers and Internet of Things(IoT), to distil personalised and powerful insights.
Utilising proactive notifications and real-time alerts, the Microservices help insurers and reinsurers around the world understand risk in a way that has never been possible before, opening up the possibility of true risk mitigation.
Built on a cloud-based platform, the system-agnostic Microservices help to fuse the traditional with digital. As well as enhancing the performance of AdvantageGo’s core solutions, the Microservices seamlessly, swiftly and independently integrate with existing third-party software, enabling insurers and reinsurers to evolve towards a more flexible IT landscape.
Adrian Morgan, evp and head of AdvantageGo at NIIT Technologies, comments “Upgrading technology is the number one concern for insurance and reinsurance professionals. Through extensive use of instantaneous, highly-automated data sources, commercial (re)insurers can easily and quickly achieve greater control over their entire book of business by receiving contextual analytics at the point of decision-making.”
Insurance Newslink dropped into NIIT's London office yesterday to discuss the Microservices development with Morgan and colleagues. Morgan said that the insurance and reinsurance sector is one of the last to move to digitisation and NIIT were providing a quicker route to apply InsureTech solutions, with a specific emphasis on mitigation of risk, a major challenge across P&C business worldwide. He added that InsurTech solutions were an opportunity rather than a threat, which the insurance market cannot afford to ignore. NIIT with over 10,000 employees, have a deep domain experience of digitisation development such as artificial intelligence, robotics, and the Internet of Things(IoT), and the equally essential long term knowledge of the insurance and reinsurance world and its mindset. Insurance Newslink will be keeping a close watch on NIIT's progress.
NIIT Trends(12 articles)