Percipience, an insurtech data and analytics software provider, is pleased to announce an implementation of Data Magnifier was delivered successfully by a small, blended team of Ascot Group Limited and Percipience resources on-time and under budget.
Ascot is one of the specialty risk assumption organizations. With the company’s U.S. specialty insurance program experiencing rapid growth, Percipience and Data Magnifier, Percipience’s core system agnostic, data and analytics platform, were “selected to consolidate data from multiple core administration systems into a robust data warehouse leveraging Ascot’s existing tech stack.”
Tim Gambocurta, Vice President of Information Management for Ascot U.S. said:
“We chose Data Magnifier for three key reasons. First, it provided a comprehensive, proven insurance data model that could be extended if necessary. Second, Data Magnifier has a development framework that allowed us to reduce the implementation time significantly and ease the transition to allow my current staff to extend the integrations for future sources. Lastly, cost – integrating three source systems using Data Magnifier was significantly cheaper than another service provider estimated.”
Deployed in Ascot’s Microsoft Azure environment with Azure SQL as the underlying database, Percipience’s Data Magnifier “optimizes investments in existing technology, establishes a consistent, conformed, and reconciled data repository which supports basic operational and management reporting, as well as more advanced analytics.”
Using Data Magnifier, Ascot now has “a centralized, comprehensive insurance model and framework with the flexibility to support the company’s future strategic business expansion.”
Bruce F. Broussard Jr., managing partner at Percipience said:
“As we continue to enhance Data Magnifier with more robust data integration and artificial intelligence (AI) capabilities, we’re always aware of ‘the assignment. Insurance organizations have spent decades adding applications which have further separated and segregated their internal data. The real promise of advanced analytics and AI in insurance is only possible after you’ve been able to make your enterprise data available in a usable form. Data Magnifier untangles and normalizes needed, relevant data across the enterprise to better deliver insights to underwriters, actuaries, CXO, and operations leaders at the lowest total cost of ownership (TCO) in the industry. We are proud to have Ascot Group as a partner and pleased they are realizing the ROI they had planned. We look forward to continuing to work with them to further increase the value they get from the platform.”
