Delivered more than 30 days early and under budget, the data and analytics platform is already producing a return on Ascot’s initial investment.
NEW ORLEANS, April 17, 2024 (GLOBE NEWSWIRE) — 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 (Ascot) and Percipience resources on-time and under budget.
Ascot is one of the world’s pre-eminent 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.
“We chose Data Magnifier for three key reasons,” said Tim Gambocurta, Vice President of Information Management for Ascot U.S. “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.
“As we continue to enhance Data Magnifier with more robust data integration and artificial intelligence (AI) capabilities, we’re always aware of ‘the assignment,’” said Bruce F. Broussard Jr., managing partner at Percipience. “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.”
About Percipience
Percipience is an insurtech data and analytics software provider, whose core-system agnostic Data Magnifier platform quickly transforms siloed data from multiple sources into a competitive advantage. Data Magnifier’s comprehensive integration, data management, and reporting components can be deployed on any cloud platform and database. Delivered with the detailed documentation of an in-house developed application, Data Magnifier gives insurers full control of how the solution is managed and empowers insurers to own their data. For more information, please visit www.percipience.com.
About Ascot Group Limited
Ascot Group Limited is a pre-eminent specialty insurance organization. With a footprint spanning the U.S., the U.K., and Bermuda, Ascot operates through an ecosystem of interconnected global platforms bound by a common mission and purpose. For more information, please visit www.ascotgroup.com.
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