London, May 13th 2024 – Concirrus announces the launch of a pioneering solution aimed specifically at the General Aviation insurance market. This contemporary set of capabilities addresses a pressing need to facilitate greater efficiency when writing risks in the face of increasing regulatory and process complexity faced by aviation underwriters.
Aviation underwriters are actively grappling with the challenge of efficiently processing submissions while accurately assessing risks. Studies reveal that up to 40% of underwriters’ time is consumed by non-value-adding tasks, such as manual data entry and paperwork processing, hindering strategic analysis and proactive risk management. The Concirrus platform steps in and alleviates this burden, reducing time spent on the submission phase from hours to just a few minutes, allowing underwriters to redirect their efforts towards value-adding activities such as risk assessment and portfolio optimisation.
The Concirrus submission solution automates manual risk entry and leverages advanced data analytics and AI to enhance accuracy and risk assessment. By harnessing real-time data from diverse sources, the platform empowers aviation underwriters to make informed decisions, identify emerging risks, and proactively mitigate losses.
“At Concirrus, we recognise the critical importance of efficiency in aviation underwriting,” said Andy Yeoman, CEO at Concirrus. “This technology is a game-changer, enabling aviation underwriters to achieve unprecedented levels of efficiency and effectiveness. Additionally, when combined with our wider roadmap which adds pricing, compliance, and portfolio capabilities we believe that these one-stop-shop solutions move from interesting to compelling.”
Applied Aviation, a renowned leader in aviation insurance, is among the product’s early adopters. “We are thrilled to be using Concirrus’ innovative platform to streamline our underwriting processes,” said Steven D. Allen, President at Applied Aviation. “This technology has already proven to be invaluable in enhancing our efficiency and accuracy, allowing us to better serve our clients and stay ahead of the competition.”
For more information, visit www.concirrus.com/aviation.
About Concirrus
Concirrus is a leading provider of innovative technology solutions for the speciality insurance industry. Our mission is to empower insurers with data-driven insights and cutting-edge technology to transform their business operations and drive growth. With a focus on harnessing the power of data analytics and artificial intelligence, Concirrus is reshaping the future of insurance.
About Applied Aviation
Applied Aviation is a renowned leader in aviation insurance, specializing in providing tailored solutions to clients worldwide. With a deep understanding of the aviation industry and a commitment to excellence, Applied Aviation is dedicated to delivering superior service and value to its clients.
Contact:
Jordyn Armstrong, Marketing and Demand Generation Manager, Concirrus
Steven D. Allen, President, Applied Aviation
