Alwrite Joins Hands with Moody's RMS Location Intelligence API

Alok Kumar, Managing Director, India, Moody's RMS, said, "Insurers must have confidence in the analytics they are using to make these split-second decisions on pricing, to operate at the speed their customers increasingly demand. Offering simplified and efficient integration, Moody's RMS Location Intelligence API solution combines our strength in catastrophe modeling with the latest technology, to deliver risk data into the heart of the innovative Alwrite platform. By incorporating Location Intelligence businesses use trusted Moody's RMS insights to unlock new opportunities for revenue growth and gain a competitive advantage in the dynamic insurance landscape."

About Alwrite

Alwrite - a startup with experience is a B2B insurtech providing an all-in-one quote procurement and placement, underwriting and user management, along with knowledge and risk management solutions to insurance companies and insurance intermediaries for the commercial lines of insurance.

Despite constant upgradation of functioning efficiency in the insurance sector, the commercial insurance segment still operates on legacy systems where the internal insuring process is still manual. The quote placement (the step before policy issuance) process is done on excel sheets and emails and it takes an estimated 30 efforts by intermediaries and insurance companies for a single policy for a commercial entity. The entire manual process takes 14-21 days with a lot of scope for error, an uncapped PI risk and is very cost intensive. Alwrite enables insurance companies, brokers, agents, corporate agents and banks to accelerate the quote placement process to provide seamless insuring services and to offer the best insurance options to their corporate clients. Alwrite also eliminates the duplication of work caused by multiple intermediaries quoting to multiple insurance companies for a single risk. Alwrite's sophisticated algorithms and tenanted architecture assure data security for each user.

About Moody's RMS

Moody's RMS shapes the world's view of risk for insurers, reinsurers, financial services organizations, and the public sector, with Moody's RMS models underlying the nearly US$2 trillion property and casualty insurance industry. Moody's RMS empowers organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

Moody's RMS helped pioneer the catastrophe risk industry and continues to lead in innovation, unmatched science, technology, and 300+ catastrophe risk models. Organizations can address the risks of tomorrow with the Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence.

Further supporting the industry's transition to modern risk management, in 2020, Moody's RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.

In 2021, Moody's Corporation acquired Risk Management Solutions, Inc. and as part of Moody's Analytics, Moody's RMS serves the P&C insurance industry as the leading provider of expertise, science, and technology in integrated risk. A trusted solutions partner, Moody's RMS enables effective risk management for better business decision-making across risk identification and selection, mitigation, underwriting, and portfolio management.

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