Willis, a global risk advisor and insurance and reinsurance broker, has selected Agencyport Software's risk exposure aggregation solution, OPEN Xposure, for its Global360 initiative.
The company caters to the marine, energy, aviation, construction and property and casualty businesses in London.
Global360 provides additional capacity and enhanced efficiency by placing coverage and following market claims settlement to its specialty risk clients.
OPEN Xposure will accumulate, validate and geocode risk data for Global360.
With this development, Willis will be able to closely monitor its portfolio through OPEN Xposure's ability to create exposure maps, provide adaptable reports and analyze risk levels.
OPEN Xposure will also enable Willis to distribute aggregate risk exposure data to participants which provides a disciplined approach to underwriting process.
Agencyport Software managing director Phil Race said, "OPEN Xposure is a strategically important product within the OPEN Suite portfolio, and one that will continue to benefit from substantial investment.
"Initiatives such as Global360 demonstrate the insurance industry's increasing reliance on accurate, timely and adaptive information to underpin critical business initiatives."
Image: Through OPEN Xposure's capabilities, Willis will be able to closely monitor its portfolio. Photo courtesy of Colin / Wikimedia Commons / CC-BY-SA-3.0.
