- Insurance Newslink drops in for a Guidewire update
- LMA says 80% of Lloyd’s managing agents would “like to see Insurance Linked Securities (ILS) products become a permanent fixture in the re/insurance market”
- PPL exceeds first quarter adoption targets
- esure Board reaches agreement with Bain Capital over all cash offer-interim profit impacted by adverse weather but growth continues
- Admiral produces strong interim result and growth all round
- CII and FCA launching series of nationwide professional focus CPD conferences for members working in the insurance profession
- Insurance Europe publishes response to the European Commission’s consultation on its proposed InvestEU programme expired
- Tremor Technologies announces that its programmatic risk placement marketplace is fully operational with significant buyers and sellers of re/insurance protection in place expired
- Continental General(CGIC) to acquire Humana’s long-term care insurance business, KMG America Corporation expired
- Talanx Chairman Leue "very satisfied" at half way expired
- SOBC DARAG forms joint venture in US-first acquisition announced expired
- Starstone announces a new casualty consortium targeted at the Australian and New Zealand markets 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)