Synatic and Relativity6 Partner to Accelerate Insurance Underwriting Processes
Synatic, a leader in data integration and automation, today announced its partnership with Relativity6, an AI-powered company focused on industry classification, to leverage data integration and automation to enhance industry detection technology – helping insurance carriers accelerate their underwriting processes.
This strategic partnership combines Synatic’s nimble, simple, and powerful hybrid integration platform (HIP) with Relativity6’s up-to-the-second business classification services that will enable clients to integrate and automate key data processes for increased efficiency and greater business identification accuracy and speed. Customers can confidently underwrite, provide new business quotes based on class of business and expedite the insurance quoting process.
Insurance companies need the ability to verify small businesses and use that data to drive crucial insurance decisions. Underwriters can spend up to 30 minutes to an hour per policy finding the relevant data needed to efficiently perform straightforward underwriting processes. Relativity6, together with Synatic, helps insurance companies do their due diligence with unmatched speed. Synatic enables Relativity6’s AI technology to pull data together, push it out to the right system, or operationalize that data for other core point systems, such as HubSpot, Duck Creek Technologies Wiki, Salesforce, DAIS, Socotra, and more.
This partnership is expected to help both Synatic and Relativity6 customers save more than 50% of their implementation costs and 70% of their deployment time, particularly across underwriting, quoting, and CRM functions.
“Our shared goal is to help insurance companies innovate faster, providing the right data to the right people at the right time. Our partnership with Relativity6 will empower businesses to get the most out of their data,” said Jamie Peers, Vice President of Business Development and Alliances at Synatic.
“Partnering with Synatic’s best-in-class platform enables Relativity6 to deliver value quickly and seamlessly across the insurance value chain, and we couldn’t be more excited to get started,” said Alan Ringvald, CEO of Relativity6.
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