Underwriting technology company Two Sigma Insurance Quantified, with its launch of a new service and the help of a new advisory council, has aimed to underwrite more coverage while reducing risk for commercial P&C insurers and MGAs.
After selling off Attune, its joint venture with AIG and Hamilton Insurance, last October, Two Sigma IQ is emphasizing its SubmissionIQ underwriting workbench product. SubmissionIQ takes “the business coming in through the front door, understands everything about it and what the broker sends, then enriches it with third-party data,” said Brian Modesitt, CEO of Two Sigma IQ.
SubmissionIQ analyzes the risk in underwriting submissions, which Modesitt said is unique among underwriting operations products. “There are companies doing pieces of it. They might do ingestion. They might do what some call risk operations,” he said.
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