Nexilis teams with CustomWeather to integrate weather data in the Nexilis Insurance platform, adding another level of innovation insurers can utilize to create innovative, digital Underwriting and Claims processes.
Nexilis and CustomWeather today announced they have entered into a strategic partnership to accelerate insurance digital transformation using Custom Weather’s Historical and Forecast Data integrated within the Nexilis cloud-native, microservices-based digital insurance platform.
Nexilis provides a configurable, core insurance platform, running on the AWS Cloud, that enables Insurers and MGA’s to quickly stand-up new products, and create new digital operating models at low costIncorporating key partners like CustomWeather into their ecosystem provides Insurers with a one-stop shop for necessary data to transform their businesses.
The Nexilis/CustomWeather partnership provides Insurers and MGA’s (managing general agents) with an unparalleled opportunity to seamlessly incorporate weather data in the Underwriting process enabling better decision making and more opportunities for straight through processing.
“Digital transformation and efficiency gains in underwriting are top priorities for insurers. Data, particularly weather data, can lead to significant improvements in decisioning, pricing, and the overall customer experience,” said Thad DeBerry, Co-founder and CEO of Nexilis “Customer and agents no longer want to provide reams of data about the risk and then wait to get the best price for coverage. The addition of CustomWeather to the Nexilis Ecosystem provides a significant capability within the overall Underwriting process that will enable our customers to leap-frog their competition.”
“Nexilis is an ideal partner for CustomWeather. Weather data is becoming increasingly more important to the Underwriting and Claims processes.” said Geoff Flint, President and CEO at CustomWeather. “The historical and forecast data we can provide substantially increases the potential for better underwriting outcomes. The Nexilis platform combined with our weather products offers significant value to Insurers and MGA’s seeking weather-related insights that power growth and innovation.”
Nexilis notes that a top inhibitor for digital transformation among MGA’s and small to mid-size insurers is the cost and time it takes to integrate key data sources with the core processing platform. This unique set of potential customers in the Insurance industry can significantly benefit from the kind of partnership being created by Nexilis and CustomWeather.
Nexilis is a Delaware based LLC Insurtech company, with a highly configurable Insurance as a service platform that enables Insurers and MGAs to quickly integrate complex technologies and data delivering outstanding customer experiences. Their accomplished leadership team of Insurance and Technology experts have used their combined 100+ years of experience in Insurance to innovate and deliver this truly unique, AI driven cloud platform specifically for the insurance market.
Nexilis offers a configurable, AI driven, insurance platform and services that manage all underwriting and product distribution needs for P&C Insurers. The innovative technology enables insurers and MGAs to quickly launch new and existing products integrated with emerging technologies such as IoT devices, 3rd party data sources, and the latest insurtech capabilities to create world class customer experiences. Insurers and MGAs can utilize the Nexilis platform to streamline their underwriting process to the point of straight through processing, create new distribution models, and enter new markets by applying AI to third party and internal data.
For more information visit: www.nexilis.com
CustomWeather serves a global client base from its Mill Valley, CA headquarters, offering exclusive, customized solutions to utilities, media, business, and government institutions. CustomWeather’s pinpoint weather data, for millions of locations worldwide, in 200+ countries and in over 85 languages, is an unmatched service for forward-thinking enterprises. In addition to real-time and forecasted weather data, CustomWeather maintains a unique, powerful historical data trove dating back 50+ years that empowers clients to train their own internal AI models for business forecasting and analytics. For more information, visit https://customweather.com