PLATFORM Insurance Management partners with risk management technology firm

Nationwide brokerage PLATFORM Insurance coverage Administration has partnered with threat administration know-how agency Provision to learn its building and actual property purchasers.

The providing automates the assessment course of whereas supporting higher decision-making and proactive threat avoidance. It’s also designed to simply combine with purchasers’ present techniques.

“At PLATFORM, we prioritize innovation and delivering superior options to empower our purchasers in navigating complicated dangers successfully,” PLATFORM chief government Charles Quenneville, FCIP, mentioned.

Provision leverages refined synthetic intelligence (AI) and machine studying applied sciences to streamline the contract assessment course of.

Utilizing pure language processing, it will possibly dissect intricate authorized paperwork, pinpoint important clauses, and highlight potential hazards. The platform gives customers with a prioritized threat analysis, customizable workflows, instruments for collaboration, and detailed analytics.

The tie-up between PLATFORM and Provision is poised to ship important benefits to purchasers, together with enhanced threat analysis, higher compliance, and a discount in authorized threat publicity. PLATFORM’s purchasers may also profit from unique reductions on Provision’s providers.

“We acknowledge the rising significance of streamlined threat administration processes, due to this fact searching for a partnership with cutting-edge know-how and experience to boost our providers,” Quenneville mentioned.

“Provision’s superior AI-driven contract assessment platform aligns completely with PLATFORM’s dedication to excellence, providing an answer that enhances effectivity and precision in contract evaluation.”

Provision co-founders Brendan Ardagh and Luigi La Corte, in a joint assertion, famous: “We’re thrilled to hitch forces with PLATFORM, a visionary chief within the insurance coverage trade. Collectively, now we have the chance to revolutionize threat administration practices, leveraging cutting-edge know-how and strategic insights to drive tangible outcomes for our purchasers.

“This partnership marks a major milestone in our journey to reshape the way forward for threat administration.”

What do you consider this story? Share your ideas within the feedback under.