Delivering the ability to consolidate data from multiple core systems rapidly, efficiently, and on the company’s existing technology stack was essential to this selection.
NEW ORLEANS, Aug. 02, 2023 (GLOBE NEWSWIRE) — Percipience, an insurtech data and analytics software provider, is pleased to announce Ascot Group Limited (Ascot), one of the world’s pre-eminent specialty risk assumption organizations, has selected Data Magnifier, Percipience’s premier data and analytics platform, for a data consolidation, warehouse, and advanced analytics project.
Ascot’s U.S. specialty insurance platform is growing rapidly, and in order to enable a tech-centric approach to optimizing the company’s platform, Ascot sought a solution that would seamlessly feed data from various core administration systems into a robust data warehouse.
“Introducing an advanced data solution to our technology ecosystem was something we identified as key to the sustained future growth of our business,” said Tim Gambocurta, vice president of information management for Ascot. “In Percipience, we identified a top-tier vendor with a data and analytics platform that would enhance our existing tech capabilities by providing easy access to both the historical and current data in our core systems. Using Data Magnifier, we look forward to implementing a comprehensive insurance model and framework that has the flexibility to support our unique requirements and competitive differentiators and enables us to take a data-led approach to decision-making as we strategically expand our business.”
With a planned implementation of only 34 weeks, Percipience’s Data Magnifier will establish the foundation that Ascot’s U.S. specialty insurance platform will use to further consolidate internal core system data into a consistent, conformed, and reconciled repository, enabling it to support basic operational and management reporting, as well as more advanced analytics, driving profitability for the future. Following Percipience’s implementation of Data Magnifier, Ascot’s internal control and support model will be driven by the extensive documentation that is delivered with Data Magnifier.
Percipience will help Ascot capitalize on existing cloud investments by deploying Data Magnifier in Microsoft Azure with Azure SQL as the underlying database. By leveraging existing technology and systems initiatives, Percipience delivers needed and relevant data insights to underwriters, actuaries, CXO, and operations leaders at a lower total cost of ownership (TCO) than other data and analytics solution providers in the marketplace.
“We designed Data Magnifier not only with the most modern, flexible data functionality, but also to be completely platform independent,” said Bruce F. Broussard Jr., managing partner at Percipience. “For companies like Ascot, the platform independence is almost as important as the solution itself, because when combined with the detailed documentation we provide, it ensures their ability to function and grow on their own…without expensive consulting resources in place on a daily basis. We are pleased to add Ascot to the growing Data Magnifier family.”
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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