Two Sigma Insurance Quantified, an underwriting technology company for the commercial property/casualty industry, announced a partnership with NominoData, a company helping clients with worldwide identity, compliance, and risk management.
Through this partnership, NominoData’s OFACplus dataset will now be available to customers of TSIQ’s underwriting workbench service, SubmissionIQ. By incorporating this data directly into their workflows, firms will be able to work on detecting fraud and strengthening risk management earlier in the underwriting process, according to a company press release.
The OFACplus dataset aggregates high-risk watch lists into a single data file to help manage risk and sanctions. Through an API integration with SubmissionIQ, underwriting teams can call the data to verify an individual or company identity, flagging any high-risk information. Use cases in TSIQ’s currently active industries include fraud detection in commercial transportation for firms to better verify company and driver identity and professional liability programs to validate businesses and individuals within a practice.
Incorporation of NominoData’s OFACplus dataset directly within SubmissionIQ represents the latest partnership for TSIQ. In October, the company announced its partnership with Central Analysis Bureau, a provider of risk assessment tools and data for the transportation insurance industry.
BondExchange, a technology and service provider for the surety bond industry, and BrightFire, a website and digital marketing firm for independent insurance agents, announced a partnership to help agents establish and grow their surety bond business.
BondExchange and BrightFire’s partnership is built on providing insurance agents with technology and service to grow and develop their businesses. Based in Charlotte, North Carolina, BondExchange services insurance agents across the U.S. It is licensed in all 50 U.S. states and writes all types of surety bonds for all customer profiles.
BrightFire is a digital marketing provider for insurance agencies, offering insurance agency websites, social media marketing, reviews and reputation management, pay-per-click advertising, and local listings management.
Price Digests, a provider of accurate VIN verification, values and prefill for insurance companies, announced its enhanced partnership with Insurity for API-integrated data solutions.
Insurity is a provider of cloud-based software for property/casualty insurance carriers, brokers, and managing general agencies. This new API integration between Price Digests and Insurity will give insurers the ability to access full commercial truck specifications and current values in real time, according to a company press release. New API development future-proofs the integration of values and specs for commercial trucks, commercial trailers and passenger vehicles, allowing integration and growth of the relationship over time.
Since 1911, Price Digests by Randall Reilly has served the vehicle data needs of the insurance, finance, government, and dealer markets through its portfolio of VIN decoding, specifications, and market value data services for the commercial truck, truck body, commercial trailer, passenger vehicle, marine, powersport, and recreational vehicle asset classes.
Sources: Two Sigma Insurance Quantified, BondExchange, Price Digests by Randall Reilly