Insurance brokerage Holmes Murphy has partnered with Aclaimant, a risk management information system (RMIS) platform, to expand reporting and analytics capabilities for a range of Holmes Murphy clients through A Claimant's RMIS expertise and technology.
“Centralizing claims data on the Aclaimand platform will allow Holmes Murphy to offer state-of-the-art data visualization and analytical solutions that deliver insights and improve outcomes for our clients,” said Joe Schueller, data scientist at Holmes Murphy. “A Claimant's platform will pave the way for us to build advanced analytics models for forecasting and alerting, among many other benefits.”
According to Deloitte’s 2022 Insurance Industry Outlook, 74% of insurance companies expect to increase spending on artificial intelligence, and 67% expect to increase spending on data analytics. Investment in digital technologies allows broker teams to be more embedded in clients’ risk management processes, which in turn allows them to better advise clients on how to reduce risk and protect their businesses, Aclaimant said.
“This partnership would not have been possible without our participation in the 2021 BrokerTech Ventures Accelerator program. Through that, we forged a relationship with Holmes Murphy and are now enabling a data-driven approach to claims and risk management,” said David Wald, co-founder and CEO of Aclaimant. “Our technology is equipping Holmes Murphy with a streamlined way to improve policyholder engagement, data visibility, and claims outcomes to visualize, reduce, and proactively mitigate losses and risks.”
The collaboration will enable Holmes Murphy to utilize A Claimant's reporting and data analytics tools, client benchmarking, and comparative performance analysis to reveal insights about clients and provide a more detailed analysis of loss trends. A Claimant's platform will also enable the acquisition and cleansing of carrier data at scale as the partnership grows, the insurtech said.
“We are incredibly excited about this partnership with Aclaimant,” said Chris Murphy, vice president of enterprise loss control at Holmes Murphy. “With A Claimant's expertise in acquiring, organizing, and visualizing carrier loss data, we will be able to further enhance our claims consulting and loss control capabilities to drive superior results for our clients.”