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Verisk Collaborates With Magnifact to Help Integrate Groundbreaking Data Analytics Solution for Life Insurance Distribution

Verisk Collaborates With Magnifact to Help Integrate Groundbreaking Data Analytics Solution for Life Insurance Distribution | Fintech Finance

Magnifact® is joining its award-winning insurance analytics capabilities with Verisk’s top-ranked FAST technology platform to help carriers and their distributors gain a broader scope of real-time, data-driven insights and automation.

Enriched by data analytics that reflect deep expertise and experience in the field, Magnifact’s AgentVizion™ solution and AgentVizion2GO mobile app form a digital experience platform that offers agents, brokers, third-party administrators and insurers greater visibility into all aspects of life and annuity distribution. Application programming interfaces (APIs) and web services will drive integration with FAST, which is embedded with growing numbers of life and annuity insurance carriers, to help enhance an increasingly powerful app.

“With Verisk’s FAST technology, we’ve been able to build a new bridge into the agent-carrier ecosystem more quickly and efficiently than ever before,” said Krish V. Krishnan, founder and chief executive officer of Magnifact. “Our vision is to deliver a 360-degree view of data and analytics for distributors and insurers alike, and this collaboration will promote a wider adoption of our unique and game-changing solution.”

“This integration with AgentVizion further demonstrates how FAST can help connect different parts of the insurance value chain and inform more comprehensive strategies,” said Tom Famularo, founder and managing director of Verisk’s FAST. “From the largest carriers to nimble providers of support services for the industry, we can help reimagine processes and workflows with less time, money and staff resources—and a simpler path to self-sufficiency with the platform.”

To support life and annuity insurers across the policy life cycle, Verisk has developed a suite of solutions that apply advanced analytics, automation and machine learning to existing and emerging data sources. The solutions are designed to help transform current workflows in life insurance underwriting, claim insights, policy administration, unclaimed property/equity, compliance and fraud detection and actuarial and portfolio modeling.

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