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Press Release

Risk Metrics Introduces Insurance360™– A Revolutionary New Business Development and Underwriting Tool for Commercial Insurers

>PRWEB.COM Newswire

Boca Raton, Fla (PRWEB) September 28, 2011

Risk Metrics Corporation (http://www.RiskMetricsCorp.com), a provider of market intelligence for commercial insurers, today announced that it has launched Insurance360™, a revolutionary new data as a service (DaaS) product that for the first time allows insurance carriers, brokers and agencies to access the data they need all in one place, in real time – and only pay for what they use.

Risk Metrics also announced that Insurance360™ was named a winner of the 2011 Entrepreneurial Insurance Award, presented by the Entrepreneurial Insurance Alliance (EIA) on Sept. 20. Risk Metrics was one of 11 finalists out of hundreds of applicants, and was the top winner in the Technology category.

Insurance360™ aggregates risk-indicative data on U.S. based businesses and their workers’ compensation, commercial property and commercial auto exposures in one centralized “cloud” repository. Insurance360™ then exposes this information to customers though an application program interface (API) to make it available in real-time for underwriting, business development or other insurance applications. Data can be accessed from within sales and marketing tools, customer dashboards, underwriting and risk applications, mobile devices or virtually any other client site or vendor application.

“This is the first time that this data has been aggregated in one place and made available with a scalable consumption model,” said John McCarthy, President and Founder of Risk Metrics, which also offers DataListerTM x-Date marketing software for insurance agents. “This means that our customers can get access to information, one record at a time or one million records at a time – and only pay for what they need.”

Insurance360™ brings together four mission critical data sources to complete a powerful composite picture of an employer’s risk or insurance exposures. Available data includes:

  •     Details of each employer’s current workers’ compensation policy including carrier of record, governing class code and policy effective date.
  •     The commercial property portion includes the current property owner name and address, market and appraised values, square footage and other property specific characteristics.
  •     Commercial vehicle data includes commercial vehicle counts for the specific business, vehicle types and distribution, along with other commercial auto risk indicative data.

The Entrepreneurial Insurance Award
The Entrepreneurial Insurance Alliance presented the award to Risk Metrics at the MarketScout Annual Entrepreneurial Insurance Symposium. The Alliance reviewed hundreds of nominations before selecting finalists for each of the three categories: Technology, Distribution and Underwriting. Finalists were chosen from a wide range of leading insurers, agents, brokers, technology companies and service providers. Technology finalists included solutions from LexisNexis, Risk Metrics, Vertafore, CNA, Insuritas and others.

The Entrepreneurial Insurance Alliance, teaming with Microsoft and The National Alliance for Insurance Education and Research, completed an analysis of each finalist. Winners were determined based on presentations to the panel of judges and the 400 conference attendees, who ranked finalists based upon factors including industry applicability, broader market impact, financial implications and unique features.

Richard Kerr, President of MarketScout and a member of the Entrepreneurial Insurance Alliance commented that "Risk Metrics has utilized cloud hosted data in a widely applicable format which is easy to use and has an immediate impact for those companies that implement their business application. The board of the EIA selected Risk Metrics as an award winner this year because they have taken a tremendous amount of complex data and organized it in an easy to use, easy to understand application."

Risk Metrics Corporation
Risk Metrics Corporation is an information services company that specializes in providing marketing, research, distribution and sales information systems and data for property and casualty insurance carriers, agents and brokers. Based in Boca Raton, Fla., Risk Metrics provides services that leverage a comprehensive database of risk indicative information on U.S. based employers. Its proprietary database and extensive expertise in data integration with leading third-party information providers, enables the company to offer planning and tactical solutions for insurers to execute their growth strategies. Its proprietary products and services include DataListerSM marketing software for insurance agents, ProspectBase™ business development system, ProspectMosaic™ and Insurance BRIEF™ solution for middle and major market risks.

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Read the full story at http://www.prweb.com/releases/2011/9/prweb8832956.htm

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