Veridion and Insillion Partner to Enhance Underwriting with Global Business Data

Empowering underwriters with accurate, timely data and advanced risk insights

Oct.9, 2024: Bucharest – Veridion, a leading AI-powered business data provider, has partnered with Insillion, an Insurance Sales and Underwriting platform. This collaboration integrates Veridion's global data into Insillion's underwriting workflows, enabling Property & Casualty (P&C) carriers and Managing General Agents (MGA) to improve risk assessment and automate underwriting efficiently.

Mahavir Chand, co-founder of Insillion, commented “Our partnership with Veridion empowers carriers and MGAs to accelerate the quote-to-bind process with customer pre-fill data and enhance risk analysis by accessing NAICS codes within Insillion’s workflows, ensuring speed and accuracy for submission and underwriting processes.”

Veridion offers over 123 million active business profiles across 240 countries, refreshed weekly to capture changes in business activities and risk exposures. By analyzing companies' digital footprints with advanced machine learning, Veridion provides accurate firmographic details and predicts industry classifications like NAICS, NCCI, SIC, and ISIC codes, enhancing quote accuracy.

Integrating this data into Insillion’s workflows, empowers underwriters to identify risk exposures effectively, conduct thorough assessments, and tailor coverage precisely. This leads to accurate premium calculations and better customer outcomes.

Florin Tufan, CEO of Veridion, stated, “We are thrilled to collaborate with Insillion to provide underwriters with the global, accurate business data and risk insights they need. This partnership aligns with our mission to leverage data for smarter and more accurate risk management in the insurance industry.”

About Veridion

Veridion is a leading AI-powered business data provider that delivers comprehensive and up-to- date business information for companies worldwide. By focusing on data accuracy and leveraging companies' digital presence, Veridion empowers underwriters and insurance professionals to make confident, data-driven decisions that enhance risk assessment and underwriting processes.

To explore Veridion's global coverage, visit https://explore.veridion.com/ and access our interactive map and business data snapshot.

About Insillion

Insillion is a market leader in insurance sales and underwriting technology across India, MENA, APAC, and North America. With more than 20 years of industry experience, over 40 global carriers and Managing General Agents have chosen Insillion to modernize, transform, and scale. Insillion empowers carriers and MGAs to transform insurance submission, sales, and underwriting through a cloud-based, low code – no code platform driven by APIs.

Read more about Insillion: https://us.insillion.com/