DQPro, the data monitoring platform, now being used by 14 global insurance carriers and 35% of the London market; identified in Oxbow Partners’ 2019 Insurtech Impact25 report as one of the emerging insurtechs likely to have a major impact on the specialty insurance sector
LONDON, Friday 3rd May, 2019: Atticus announced today a 110% increase in the number of companies licensing its DQPro data quality management software in 2018. Now with 14 global insurance carriers deploying DQPro throughout their operations, the company is enabling its clients to address one of the industries core business challenges.
DQPro’s clients manage over £12 billion in gross written premium and represent over 35% of the Lloyd’s market. Launched in 2018, Oxbow Partners Insurtech Impact25 report has established itself as successfully identifying the key emerging companies best placed to impact the insurance sector this year. DQPro was selected by Oxbow Partners as one of the 25 companies to be profiled in their 2019 Impact 25 report.
DQPro was one of six data-focused companies included in this year’s study and the Oxbow report stated, “We see big opportunities for DQPro to be a central pillar of carriers’ work to create more structured data environments.”
With the deployment of DQPro, companies are reporting significant increases in their confidence in the quality of their data. Smart automation replaces inconsistent manual checks on key underwriting metrics and controls across multiple systems.
This enables a rapid response to issues highlighted and results in major improvements in efficiency. Over 500 users have benefitted from more than 100,000 automated data checks on DQPro in 2018.In the past 12 months, the platform has allowed an estimated equivalent of 30 full-time FTE roles to be re-deployed to other operational support tasks.
DQPro was launched in 2016 by co-founders Nick Mair and Andy Williams, who own 100% of the company.
DQPro customer Hugh Maltby, Director of Operations, Markel International, commented for the Impact25 report:
“We chose Atticus DQPro because the team has a deep understanding of how a commercial specialty insurance business works and were able to easily integrate DQPro into our existing workflow.”
DQPro Co-Founder and CEO Nick Mair said:
“Better data and how to harness it is at the heart of almost all new developments that will advance the insurance market. We are delighted that the use of DQPro has grown so fast and that we have been recognized in the Oxbow Partners report. It is a testament to the hard-working team behind our product and our incredibly supportive customer base.”
Accurate data is absolutely vital to underwriting and increasingly demanded by regulators, and we aim to create a culture of ‘right first time’ for business ownership and oversight of data across multiple teams, office locations and systems.
We continue to broaden our customer base in 2019. We are extending our international reach to the main specialty insurance hubs in the US, Bermuda and Asia. The capabilities of DQPro will also continue to expand to ensure our clients can focus on their core business – with the confidence afforded by robust and reliable data.”
Notes to Editors
Access the Oxbow Partners Impact25 report:
Founded in 2016, DQPro the insurtech arm of specialist software company Atticus Associates. DQPro monitors carrier data 24/7 to apply the controls you need on your data, be it underwriting, compliance or ensuring great data quality.
The innovative DQPro platform allows business side users to take control of their data checks, replacing existing ad hoc methods with an automated solution to align with Solvency II, Lloyd’s and SOX regulations.
Based in London EC3, Atticus Associates combines a deep understanding and wide experience of the data and technology challenges facing carriers, MGAs and brokers alike to deliver unique, innovative and quantifiable solutions.
For more information please visit: www.atticus-associates.com
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