Increasing efficiency of data-intensive processes creates deeper need for data scientists by insurers.
The explosion of Big Data in the last five to ten years has hit the insurance industry hard due to the inability of legacy technology systems to effectively capture, store, integrate, and utilize unstructured data, in particular, and created an urgent need for data scientists.
Forward-thinking insurance industry solution providers, like ClarionDoor, Inc. , developer of enterprise-class, cloud-based rating, quoting, and issuance solutions for property and casualty (P&C) insurers, are adding bench strength with significant data mastery capabilities to help offset the gap for insurance company clients. Notably, ClarionDoor recently added Mark Heslop to the leadership team as the company’s new Head of Data and Analytics.
“Mark is an important addition to our team,” said Michael DeGusta, CEO of ClarionDoor. “He will be working on bringing best-in-class data and analytics to the underwriting forefront by integrating third-party data solutions, building out analytical modules to enable stronger and more consistent underwriting, and providing underwriters and managers at client companies with real-time analytical dashboards to further empower more effective business strategies and course correction where necessary.”
Heslop comes to ClarionDoor with over ten years’ experience in the FinTech and InsurTech industries and a focus on real-time data analytics that drive business decisions. Throughout his career, Heslop has held high-level positions at Risk Management Solutions, Nomis Solutions, and Amazon Web Services where he has helped develop integrated customer-centric strategies across cloud-hosted platforms. In his role at ClarionDoor, Heslop will be advancing data strategies that solve real world challenges for P&C insurers.
“Data is becoming the epicenter of the insurance industry,” said Heslop. “With the increasing demand on bringing innovative products to market, better user experience, and insurers building stronger relationships with customers, having a data strategy is not only important, but essential to staying competitive. Insurance technology and solution providers have made progress in back-office analytics and ‘after-the-fact’ insight, but the industry has not managed to tackle the integration of rich data and analytics at the point of rating, quoting and issuing each policy. This is largely due to front-end systems which are tied to outdated, back-office core administration and portfolio management systems, making the evolution of front-line operations increasingly difficult to achieve. ClarionDoor’s modern, API-first platform designed specifically for rating, quoting, binding, and issuing policies provides the perfect foundation to bring best-in-class data and analytics to the forefront of the insurance process, where business is being won or lost.”
ClarionDoor’s Digital Distribution Suite (CD Digital Distribution Suite) provides cutting-edge rate/quote/bind, issuance, and forms management functionality, and helps insurance company clients rapidly improve speed to market, enhance the user and customer experience, and optimize new and existing distribution channels. With a deeper bench of data experts, implementation times that easily beat industry norms, guaranteed uptimes, and real-time scalability, ClarionDoor is a strong partner for P&C insurers needing immediate improvements in critical processes.
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