Verisk and Magnifact to integrate data analytics for life insurance
Wonderful® combines its award-winning insurance analytics capabilities with VeriskFAST’s top-ranked technology platform to help carriers and their distributors gain a wider range of real-time, data-driven insights and automation.
Enriched with data analytics that reflect deep domain expertise and experience, Magnifact’s AgentVizion™ solution and AgentVizion2GO mobile app form a digital experience platform that provides agents, brokers, third-party administrators and insurers with more great visibility on all aspects of the distribution of annuities and life insurance. Application programming interfaces (APIs) and web services will drive integration with FAST, which is integrated with a growing number of life insurance and annuity companies, to help enhance an increasingly powerful application .
“Using Verisk’s FAST technology, we were able to build a new bridge in the agent-transporter ecosystem faster and more efficiently than ever before,” said Krish V. Krishnan, Founder and CEO of Magnifact. “Our vision is to provide a 360-degree view of data and analytics to distributors and insurers, and this collaboration will drive wider adoption of our unique and revolutionary solution.”
“This integration with AgentVizion once again demonstrates how FAST can help connect different parts of the insurance value chain and inform more comprehensive strategies,” said Tom Famularo, Founder and Managing Director of Verisk’s FAST. “From the largest operators to agile industry support service providers, we can help you reinvent processes and workflows with less time, money and human resources, and a simpler path to self-sufficiency with the platform.”
To support life and annuity insurers throughout the policy lifecycle, Verisk has developed a suite of solutions that apply advanced analytics, automation and machine learning to existing and emerging data sources. The solutions are designed to help transform today’s life insurance underwriting, claims information, policy administration, unclaimed property/equity, compliance and breach detection workflows. fraud and actuarial and portfolio modelling.