Insurdata wins “Insurtech Initiative of the Year” Award

November 22, 2019

·        Award presented at Insurance Day London Market Awards 2019

·        Entries judged by independent panel of industry leaders

·        Award recognises initiative predicted to have greatest impact on London market

We are delighted to announce that Insurdata has been awarded the “Insurtech Initiative of the Year” award at the Insurance Day London Market Awards 2019.

The shortlist for this award boasted some outstanding initiatives spanning critical aspects of the London insurance market. However, the judging panel, which was composed of leading industry figures from organisations including the LMA, Aon, BCG and the MGAA, believed that Insurdata stood out as the initiative which demonstrated the clearest innovation, provided the most significant opportunity to enhance business practices, and had the greatest potential to impact the London Market.

Commenting on the award success, Jason Futers, CEO, Insurdata, said: “This is a fantastic achievement for a company which only launched in 2017 and recognises the huge opportunity which Insurdata provides to address head-on the fundamental data resolution challenge which the insurance industry faces.

“The last 24 months have been a very busy period for Insurdata. We have secured strong backing for the platform, analysed, created and augmented live risk data for over 30 re/insurers, and made it through the stringent process of the Lloyd’s Lab as part of the Cohort 3 programme. It’s been an incredible two years.”

Jeremy Sterns, Chief Technology Officer, added “This award recognises the immense effort that the Insurdata team has made to turn the original idea of creating a platform that would enable the creation of high-resolution data at the individual exposure level into a fully functioning reality. We’re excited about what the future has in store and are looking forward to continuing to roll out our API to syndicates, (re)insurers, brokers and modellers working to improve their exposure data.

“We saw the expected losses to flood as a result of the repositioning change by an order of magnitude of as much as 80% in some cases, and that is material”
Paul Nunn — Head of Catastrophe Modelling at SCOR