Tensorflight forms partnership with Risk Solved

Global property risk management data analytics provider, Tensorflight, has announced a partnership with risk management platform provider, Risk Solved, to provide the insurance industry with enhanced global residential and commercial property risk management solutions.

The enhanced property risk data is designed to improve risk selection and pricing for underwriters, increase portfolio profitability and provide insurers with better risk management and mitigation advice for brokers and their clients.

Tensorflight’s property intelligence platform combines ground-level, aerial and satellite imagery to calculate property replacement and reinstatement costs, and flags potential risk management issues. Tensorflight’s data sources are global, with a particular focus on the US, Europe and Australia. Its platform is able to process the risk management data of over 100,000 individual buildings per day.

Richard Thomas, chief strategy and partnerships officer at Risk Solved, said: “Risk Solved is a market leading risk management platform and we want to partner with best-in-class companies. The opportunity to provide enhanced risk data on commercial property is a pressing need for insurers. This partnership with Tensorflight will provide underwriters with much more detailed information on a greater percentage of their property portfolios worldwide through remote data sources.”

“We have helped our customers improve loss ratios on some portfolios by 20%. We believe using Tensorflight’s data will improve underwriting insight and decision making and help clients’ underwriting performances yet further.”

Maksymilia Wandel, business development lead at Tensorflight added: “Our solutions eliminate inaccuracies within property infrastructure data and significantly improve the quality of the information underwriting decisions are based on. We are delighted to partner with Risk Solved to offer insurers enhanced global property data and insights, which will enable improved data utilisation as well as faster decision-making.”

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