Insurity, LLC, a leading provider of cloud-based core system solutions and data analytics for the world’s largest insurers, brokers, and MGAs, today announced that Aite Group named the company a “best-in-class” vendor in the Aite Matrix: 2020 U.S. P&C Core Systems Evaluation report. Further, Insurity was top-ranked in the “Vendor Stability” category with 94% and was proven to have the largest client base.
The Aite Matrix is a proprietary vendor assessment framework that evaluates the overall competitive position of each vendor in four key categories: vendor stability, client strength, client services, and product features. Achieving “best-in-class” requires an overall score of at least 91% for all categories. Based on qualifying criteria, 37 vendors were invited to participate with only 14 agreeing to the evaluation. The report explores some of the key trends within the core systems market and discusses the ways in which technology is evolving to address new market needs and challenges. It also compares and contrasts the leading vendors’ offerings and strategies, highlighting primary strengths and challenges.
“Insurity’s robust cloud-based core systems performed exceptionally well in all key report criteria, and there is no doubting their strong commitment to data supported by solid integrative functionality, excellent third-party data capture via its API ecosystem, and their recent analytics-focused acquisitions,” said Jay Sarzen, report author and senior analyst for P&C insurance practice at Aite Group. “Any carrier looking for an enhanced data experience would benefit from Insurity’s expertise in this realm.”
Some of Insurity’s standout capabilities highlighted in the report include:
- Provides full “out-of-the-box” support for its rating engine, billing, claims, and document generation.
- Third-party data integration is fully supported for all these components as well.
- Uses documented APIs, over 75% of which are open.
- The system can extract, import, and synthesize numerous types of data including standard, structured, photos, telematics, weather, geolocational, geospatial, flood zone, personal, financial, and hazard.
“For over 30 years, Insurity has been committed to providing the most innovative cloud-based core system and data analytics solutions in the P&C space,” said Ivan Latanision, chief product officer at Insurity. “Today, we are honored to be recognized as ‘best-in-class’ for P&C core systems, and to be acknowledged by Aite Group for our strong focus, expertise, and leadership in data analytics and cloud. This recognition is a testament to our keen focus on quality, innovation, and client value, as insurers, brokers, and MGAs navigate a continuously-evolving competitive landscape.”
For more information on Insurity’s robust suite of cloud-based core system solutions and data analytics offerings, visit www.insurity.com.
Insurity is a leading provider of cloud-based core system solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering clients to focus on their core businesses, optimize their operations, and provide superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property and casualty carriers in the US. For more information, visit www.insurity.com.