Cogitate Enhances DigitalEdge Insurance Platform with Verisk Advisory Loss Costs, Rules, and Forms

Rhea-AI Summary

Cogitate Technology Solutions has improved its DigitalEdge Insurance Platform by partnering with Verisk, integrating their advisory loss costs, rules, and forms into the platform. This collaboration aims to enhance the speed of market entry for insurance carriers and agents. Cogitate's platform allows for streamlined distribution channels and better digital connectivity among various insurance providers. The alliance emphasizes a shared commitment to transforming insurance workflows, ultimately improving the insurance buying experience.

Positive

• Strategic alliance with Verisk enhances DigitalEdge Insurance Platform.
• Integration of Verisk's ISO content provides pre-integrated products for faster market entry.
• Platform modernization simplifies distribution and improves customer experience.

Negative

• None.

MARIETTA, Ga., Oct. 6, 2020 /PRNewswire/ -- Cogitate Technology Solutions, a future-ready P&C insurance technology innovator, has enhanced its DigitalEdge Insurance Platform by becoming a member of the Verisk Strategic Alliances network and integrating rates, rules, and forms from ISO, a Verisk business, into various lines of business. Cogitate's Platform enables insurance carriers, MGA's, wholesalers and program managers to distribute their lines of business, either directly to the consumer or through retail agents. This collaboration with Verisk will provide greater speed to market for these insurance distribution players who are now able to license ISO content with these pre-integrated products.

"Cogitate and Verisk share a deep commitment to transforming insurance workflows and delivering the digital experiences the marketplace demands," said Barbara Ingraham, Managing Director, Excess & Surplus, Verisk. "We're thrilled to be working with them to offer the ISO forms, rules, and advisory loss costs that are the bedrock of so many insurance programs through Cogitate's innovative platform."

"Cogitate is very excited about working with Verisk," said Jacqueline Schaendorf, Co-Founder & Director of Cogitate. "Our strategic alliance with Verisk definitely creates substantial opportunities to really change and improve the insurance buying process, add channel options and digitally connect multiple insurance providers throughout the distribution." 

Cogitate's DigitalEdge Insurance Platform helps insurance providers throughout the insurance value chain build an omni-channel insurance ecosystem to integrate multiple channels, distribution partners, customers and any third-party services. It modernizes existing processes, simplifies distribution and provides an exceptional experience to channel partners and customers alike.

About Verisk
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets. 

Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index and part of the Nasdaq 100 Index. For more information, please visit www.verisk.com.

About Cogitate Technology Solutions®
Cogitate Technology Solutions, Inc., develops innovative technology products for the Property & Casualty Insurance Industry. Cogitate helps a variety of insurance providers transform their business models to create a competitive advantage in a time of rapid industry change. Cogitate's next-generation technology products enable  insurance carriers, brokers, MGAs and agents to accelerate digitalization and expand their businesses. 

Cogitate is Headquartered in Marietta, GA, and has a major development center in Navi Mumbai, India.

Additional Resources

Cogitate DigitalEdge Insurance Platform
Cogitate Digital Insurance
Cogitate Distribution Management 
Cogitate Intelligent Claims 

Web: https://www.cogitate.us/
Blog: https://cogitate.us/blog/
LinkedIn: https://www.linkedin.com/company/cogitate-technology-solutions/ 
Facebook: https://www.facebook.com/Cogitate-Technology-Solutions-313805012108651 

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SOURCE Cogitate Technology Solutions, Inc.

FAQ

What is the significance of Cogitate's partnership with Verisk for VRSK investors?

The partnership enhances Cogitate's DigitalEdge Insurance Platform, potentially improving the efficiency and market reach, which can be beneficial for VRSK investors.

How does Cogitate's platform benefit insurance carriers and agents?

Cogitate's platform streamlines distribution and allows for faster access to integrated ISO content through the partnership with Verisk.

What improvements does the DigitalEdge Insurance Platform offer?

The platform modernizes processes, simplifies distribution, and enhances the overall insurance buying experience for consumers and agents.

When was the partnership between Cogitate and Verisk announced?

The partnership was announced on October 6, 2020.

What are the expected outcomes of the Verisk integration into Cogitate's platform?

The integration is expected to enhance the speed to market for insurance distribution players and improve digital connectivity across the insurance ecosystem.