Concirrus introduces new general aviation insurance market offering
Concirrus has launched Quest Aviation, an offering for the general aviation insurance market that reportedly increases efficiency for underwriters while addressing heightened regulatory demands and complexity.
According to Concirrus, up to 40% of an aviation underwriter’s time is consumed by non-value-adding tasks, such as manual data entry and paperwork.
“Freeing up this time allows for strategic analysis and proactive risk management,” the firm said.
The new Concirrus platform reportedly cuts submission time from hours to just a few minutes, allowing underwriters to focus on risk assessment and portfolio optimisation activities.
“The Concirrus submission solution automates manual risk entry and leverages advanced data analytics, AI to improve accuracy and risk assessment, and automatically files attachments to create detailed risk records By harnessing real-time data from diverse sources, the platform empowers aviation underwriters to make informed decisions, identify emerging risks, and proactively mitigate losses,” the firm added.
Andy Yeoman, CEO at Concirrus, commented, “We recognise the critical importance of efficiency in underwriting and aviation is no exception. Quest Aviation is a game-changer, enabling aviation underwriters to achieve unprecedented levels of efficiency and effectiveness and we’ve seen the product have an immediate impact with customers.
“When combined with our wider roadmap, which includes pricing, compliance, aggregation and portfolio capabilities, we believe that our one-stop-shop solution becomes a compelling offering for the market.”
Steven D. Allen, President at Applied Aviation, which is among the product’s early adopters, added, “We are thrilled to be using Concirrus’ innovative platform to streamline our underwriting processes.
“This technology has already proven to be invaluable in enhancing our efficiency and accuracy, allowing us to better serve our clients and stay ahead of the
competition.”
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