Buffalo, NY, May 28, 2020
Utilant, the InsurTech market leader in Property and Casualty (P&C) Loss Control software, continues to enhance the value of its product suite with the release of Guide Stream 360.
Guide Stream 360 connects individuals performing loss control surveys on-site with remote mentors who have expertise relating to the risk being surveyed. Together, the two parties complete the data collection process virtually through a live streaming video session. Guide Stream 360, empowers insurance professionals to collect photos, video, and data points about a building or asset, seeing everything the individual onsite sees, including on-site concerns where additional information may be required.
Guide Stream 360 is fully integrated with Loss Control 360 (LC360), Utilant’s core loss control survey management SaaS platform, enabling seamless passing of critical underwriting information into LC360. Utilant’s fully integrated product suite has created an ecosystem of connected intelligence, leveraging data mining, artificial intelligence, and machine learning for predictive tiered risk modeling and workflow assignment.
Tiered risk profiles can range from Large Risk Engineering to Main Street Personal Lines. The tiered risk model allows the user to choose the appropriate survey strategy including data only, self-survey, guided survey, and onsite survey while leveraging all existing workflow and features of the LC360 platform thus driving efficiency and deeper insight into their portfolios. With the addition of Guide Stream 360, insurance companies can further customize their loss control workflow with agility in assigning the most appropriate survey type paired with the most knowledgeable loss control personnel, helping to move the industry toward enacting risk-based, rather than time-based, underwriting and surveys.
“Utilant has been focused on providing tiered survey types determined by data-driven analysis of risks since the beginning,” said Pat Davis, CEO at Utilant. “Our vision for Utilant’s InsurTech Product Suite is to enable an entire ecosystem of connected intelligence to equip insurance companies and their vendors to deploy the right data collection process from anywhere in the world to evaluate and prioritize risk, at a particular location, at any time.”
The technology behind Guide Stream 360 is capable of being utilized for a multitude of use cases cross-industry. Utilant’s focus is P&C insurance, with the initial use case for Guide Stream 360 to service P&C companies with full integration into LC360 for end to end loss control survey management. By Q4 2020 Guide Stream 360 will be available as a standalone product to service any industry that wants to adopt the live streaming mentor guided collection of information.
About Utilant and Loss Control 360
Utilant’s Loss Control 360 is the best-in-class loss control survey management Platform for P&C insurance and survey/risk engineering companies, establishing its position as the hub for connecting insurance carrier core systems, vendor survey firms, and InsurTechs to comprehensively transform the global insurance industry workflow. The solution supports Commercial, Personal, and Specialty lines, and is deployed via a SaaS model. Utilant’s Loss Control 360 platform is used by leading Insurers and top vendor survey companies around the world. The Loss Control 360 platform automates the survey and service processes for carriers. It scores risks for an efficient underwriting process across all lines of commercial and residential business. A typical implementation provides positive ROI within the first year. For more information, visit www.losscontrol360.com.