Arturo is a common enterprise-class platform that provides solutions to everything surrounding property, from underwriting to risk claims. This new business strategy, which follows the addition of Greg Oslan as CEO and Mehrshad Setayesh as SVP of Engineering, represents a significant turning point in Arturo’s evolution. It further cemented the company’s position as the insurance industry leader capable of converting disparate data into straightforward and efficient workflows. In order to do this, Arturo will present a brand-new claims solution at PLRB that combines the strength of carrier claims data with Arturo property intelligence. Users will be able to speed up fair evaluations, simplify claims handling, and forecast effects in the future thanks to this.
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We had an informal conversation with Greg where Arturo’s recent strategy was at the epicenter. The key points which were discussed are:
The biggest tech challenge is the cost in the property insurtech domain, other factors being the labeling of data and heavily driven by climate change. Information intelligence plays a vital role to prove how they do with the risks coming from climate change. Arturo has taken ISO compliance also to protect their client’s data and to maintain their security apart from being heavily driven by the tech challenges so as to see the industry trends in the positive direction. In order to better serve its customers’ complex, end-to-end demands. Arturo, the property intelligence firm that provides portfolio-wide underwriting, risk, claims, and catastrophe-driven event insights, today unveiled a new business strategy. They actually implemented this strategy to a plethora of customers. Arturo has pretty much released all their strategies for the current year of 2023, but for the upcoming year 2024, they are planning to expand on their application models to an extent and also broaden their customer base.
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The new strategy will prioritize the deployment of an enterprise-class solution that uses property-level data to expedite insurance procedures across the following segments:
- Underwriting – From risk assessment at point of quote, to change detection at renewals, Arturo connects previously disconnected data and converts it into valuable, tangible portfolio insights for carriers to move quickly, operate efficiently, and price effectively.
- Risk – From pricing risk to wide scale portfolio risk assessments in underwriting-to-claims monitoring, Arturo’s intelligent analytics platform provides clearer risk visibility and better decisioning across a carrier’s entire portfolio.
- Claims – From adjusting to weather-related impact to triage, Arturo technology integrates all past, present, and future-modeled insights needed for accurate and quick claims management, so processing times and operational costs diminish while customer relationships endure.
“One of the most prevalent struggles facing our customers and the industry at-large centers around property information creation and collection,” said Arturo CEO Greg Oslan. “Not only is this process often wrought with opaque, inconsistent and inaccurate data, but when combined, this data does little in the way of actually providing a unified source of truth for portfolio-wide risk and impact. Too often, it creates confusion and increased risk for an insurance provider when the claims group is using different property information than underwriting or risk, which causes mistakes and inefficiencies.” Arturo works with insurers like USAA, American Family, Openly, IAG and Suncorp, diving deep into their businesses to fully understand each insurer’s unique challenges. “Arturo is building off five years of this experience to develop an end-to-end computer-modeled property intelligence solution to drive business impact across all phases of the insurance lifecycle,” said Oslan. “For Arturo, our portfolio approach will allow us to better serve the needs of our customers, optimize how carriers operate and protect the assets that policyholders value most at a lower cost.”
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