DUAL Corporate Risks Selects Risk Data Suite™ from Pitney Bowes Business Insight for More Accurate Underwriting Decisions
October 05 2011 - 9:00AM
Business Wire
Pitney Bowes Business Insight, a global leader in customer data,
analytics and communication software and services, has announced
that DUAL Corporate Risks – a specialist insurance underwriter
focused on SME and mid-market businesses and professionals – has
selected Pitney Bowes Business Insight’s Risk Data Suite™ to enable
location-specific risks, such as flooding, to be assessed by
postcode or geographical coordinates.
DUAL Corporate Risks has designed an e-trading platform that
enables brokers to sit with their business customers and produce
instantaneous quotations tailored to their specific needs and based
on the risk associated with their business’s location. Pitney Bowes
Business Insight’s Risk Data Suite provides an integrated package
of information on the perils associated with each postcode or set
of coordinates, which brokers can use to make faster and more
accurate decisions regarding rates and products.
Tim Grant, head of e-business at DUAL Corporate Risks, says, “We
believe that the market is transforming, driven by online
technologies such as e-trading. We are looking to develop a
solution focused on professional indemnity and directors’ and
officers’ liability, but with the option to extend the policy to
include material damage and business interruption, providing cover
from exposures such as flooding, theft and subsidence by location.
Integrating Pitney Bowes Business Insight’s Risk Data Suite means
that we can automatically draw on an impressive selection of
underwriter-rated peril information.”
“We chose to partner with Pitney Bowes Business Insight because
the company responded quickly to our brief, understood our
requirements and ultimately built a pragmatic solution that really
meets our needs. The Risk Data Suite is a plug-and-play solution
that can be implemented rapidly with minimal technical support. It
also requires no development at our end, which was another winning
factor,” said Grant.
The Risk Data Suite is specifically designed for the insurance
industry to expedite underwriting decisions, improve risk awareness
and monitor exposure. It brings together geospatial, demographic
and historical information on a variety of perils – including
flooding, subsidence, crime and arson – which can then be flexibly
integrated with insurance companies’ existing systems.
“We are delighted to add DUAL Corporate Risks to our growing
list of insurance customers in the UK,” said Steve Deaville,
managing director, Pitney Bowes Business Insight UK and ROI.
“Strategically important in today’s economic climate, the Risk Data
Suite will enable DUAL Corporate Risks to provide an e-trading
platform that will help to minimize risk and manage reinsurance
costs more accurately.”
About DUAL Corporate Risks
DUAL Corporate Risks is the UK operation of DUAL International.
Established in 1998, DUAL International is the specialist
underwriting arm of the Hyperion Insurance Group, focused on
underwriting business critical risks including D&O,
Professional Liability, Employment Practice Liability, Computer
Crime and Fraud. DUAL International has become a well-established
and respected leading underwriter with annual gross premiums of
US$150 million and now employs over 120 people in the UK, Spain,
Germany, Italy, Australia, Hong Kong, the Caribbean and the
Americas.
About Pitney Bowes Business Insight
Pitney Bowes Business Insight is a software and services company
that provides solutions to help organisations acquire, serve and
grow relationships with customers and citizens. These solutions
enable lifetime customer relationships by integrating data
management, location intelligence, sophisticated predictive
analytics, rules-based decision making and cross-channel customer
interaction management to increase the value of every customer
communication while also delivering operational efficiencies.
Pitney Bowes Business Insight is a wholly-owned subsidiary of
Pitney Bowes Inc. (NYSE:PBI), a customer communications management
technology leader. For more information, please visit
www.pbinsight.com and www.pb.com.
Pitney Bowes (NYSE:PBI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pitney Bowes (NYSE:PBI)
Historical Stock Chart
From Jul 2023 to Jul 2024