EMC Forms Partnership With Insurtech Startup RiskPossible
New working relationship will focus on measurable improvements to underwriting accuracy.
DES MOINES, Iowa (June 18, 2018) — EMC Insurance Companies announces a strategic partnership with insurtech startup RiskPossible. Based in Miami, Fla., the innovative company developed a digital platform that allows insurance carriers to monitor clients’ evolving operations and adjust their actions accordingly.
Called the Continuous Underwriting Engine (CUE), RiskPossible’s digital platform captures policyholder and potential policyholder data so underwriters can better assess risks. With real-time updates and alerts, CUE can help insurance carriers know when important exposures change.
EMC will soon begin piloting CUE. “Engaging in this pilot project lets us explore how RiskPossible’s capabilities can infuse additional insights into our risk analysis and supplement our profitable growth,” says EMC Vice President-Underwriting Dan Crew. “We consistently seek out innovative products that enhance our company’s strategic direction by helping us look beyond the way things are done now.”
RiskPossible CEO Michael DeSiato adds, “The strong underwriting culture and innovative spirit at EMC is a great fit for our product. We look forward to providing their underwriting team with innovative ways to monitor in-force policy portfolios and gain actionable insights into risks.”
EMC first became aware of RiskPossible through its involvement with the Global Insurance Accelerator (GIA), a business accelerator focused on developing and growing innovative insurance-centric startups. RiskPossible is a 2018 GIA cohort member and EMC is a GIA investor.
About EMC Insurance Companies
EMC Insurance Companies is among the top 60 insurance organizations in the country based on net written premium, with more than 2,500 employees. Employers Mutual Casualty Company (EMCC) was organized in 1911 to write workers’ compensation protection in Iowa. Today, operating under the trade name EMC Insurance Companies, the company provides property and casualty insurance products and services throughout the United States and writes reinsurance contracts worldwide. EMCC and one or more of its subsidiary companies is licensed in all 50 states and the District of Columbia. For more information, visit www.emcins.com.
RiskPossible helps property and casualty insurers more accurately underwrite in-force policy portfolios and react to any relevant changes in individual risks, allowing underwriters to take action when industry specific trigger events occur. Founded by insurance industry veterans, the company blends a deep understanding of insurance with the technical expertise needed to develop innovative solutions. RiskPossible is dedicated to improving the underwriting process and forging strong, collaborative relationships with its insurance company partners. For more information, visit www.riskpossible.com.