OSC Insurance Services Named "Data & Analytics Innovator of the Year" Award Recipient at Excellence in Insurance, Sponsored by Insurity
October 25, 2023
Insurity recognized OSC Insurance Services for leveraging data and analytics to make exceptional business decisions and achieve outstanding outcomes
HARTFORD, Conn.--Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced that OSC Insurance Services was named "Data & Analytics Innovator of the Year" at Excellence in Insurance. The Excellence in Insurance awards ceremony took place in San Diego. It recognized the outstanding performances of P&C organizations in categories including exceptional policyholder service, digital transformation, and innovative excellence in data and analytics.
OSC is a leading provider of compliance tracking technology and insurance products and services for lenders, mortgage servicers, and property investors. Upon realizing they lacked comprehensive data on insured properties, OSC turned to Insurity to efficiently incorporate geographical risk assessments into their system.
Using Insurity's Geospatial solution, OSC assesses proximity to hazard, wildfire risk scores, nearby fire station distances, and property crime and hail scores to inform decisions. They also consider property replacement values versus insured amounts. These strategic analytics enhanced reselection, boosted underwriting profits, and increased carrier capacity, including two additional cover-holders and syndicates. This is especially notable given the increasing challenges of securing capacity in the London market.
"Our partnership with Insurity has empowered us to navigate complexities in new markets with precision, tapping into crucial data analytics to augment our reach and impact," said Jose Perez, Chief Underwriting Officer at OSC Insurance Services. “With Insurity's comprehensive analytics tools, we've expanded our footprint into challenging marketplaces. Insurity's Geospatial allows us to gauge crucial factors like natural hazard proximity and property risk levels and keep our vision of maintaining excellence in insurance at the forefront of everything we do."
"OSC's forward-thinking approach to data and analytics showcases their commitment to staying at the forefront of the needs of their business and the industry at large," said Sylvester Mathis, Chief Insurance Officer at Insurity. "Their achievements underscore the power of data-driven strategies, and Insurity is proud to play a role in their continued success."
Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 22 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform, unrivaled industry experience, and the industry's most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. For more information, visit www.insurity.com.
About OSC Insurance Services
OSC is a leading provider of compliance-driven tracking technology and insurance products and services for lenders, mortgage servicers and property investors. OSC is a part of Steamboat Group, an international specialty wholesale insurance broker, program manager, managing general agent (MGA), and insurance services provider.