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"In light of last year’s heavy catastrophe-related losses, deeper intelligence is needed to underwrite these volatile risks,” Peter Hausmann, head of Nat Cat and Engineering Solutions at Swiss Re, said in a recent statement about that company’s partnership with SpatialKey. (Photo: iStock)

Microsoft and Flyreel, makers of an AI-assisted underwriting solution for commercial and residential properties, have announced a partnership to accelerate access to Flyreel’s exclusive underwriting assistant. As part of the alliance, Microsoft is investing resources and expertise to accelerate Flyreel’s go-to-market strategy, bringing new efficiency and accuracy to the property and casualty insurance market. “So many of our insurance industry clients have been asking for this kind of intelligent, automated solution to help them cut costs, improve operational efficiency, and increase customer satisfaction and retention. But, we’ve been unable to find one — until now,” Microsoft’s Director of U.S. Insurance Industry business said in a recent press release.

SpatialKey, Inc., the provider of geospatial insurance analytics, has partnered with Swiss Re to offer insurers access to multi-peril hazard data through SpatialKey’s proprietary underwriting solution. This collaboration integrates Swiss Re’s CatNet® hazard data directly into SpatialKey, providing insurers with access to 10 hazards worldwide for greater accuracy in risk selection, assessment, and management.

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