INSURANCE TECHNOLOGY

Groundspeed and Unqork Form Strategic Alliance

Groundspeed | June 25, 2021

Groundspeed, a leading provider of SaaS-based smart submission and analytics solutions to the property and casualty insurance sector, and Unqork, the leading enterprise no-code platform, have announced a strategic collaboration and integrated offering to commercial insurance firms. Combining two solutions enables carriers to enhance risk selection, reduce time-to-quote, and better serve their customers, all while significantly improving and accelerating their return on investment.

Groundspeed is changing the way carriers, brokers, and others use data to improve underwriting outcomes, save costs, and offer better service. Today, one of the essential parts of the underwriting process is assessing submission papers, and existing techniques do not use the value contained in these documents. Groundspeed enables carriers to get deeper insights from data that was previously trapped in unstructured submissions. Its artificial intelligence Rapid Data Pipeline transforms commercial insurance documents, including emails, applications, loss runs, and exposure schedules, into enhanced structured data that can be utilized for underwriting, pre-fill, and analytics.

Unqork's no-code visual platform enables companies to create mission-critical apps that can manage the complexity, scalability, and security demands of contemporary businesses – all without writing a single line of code. Compared to coding techniques, insurers can bring solutions to market at least three times quicker and at a third of the cost by using Unqork's pure no-code platform. Unqork's no-code method also results in 600x fewer defects than code-based solutions, allowing for higher-quality apps with considerably less future maintenance.

Groundspeed was recognized to FinTech Global's InsurTech 100 for the second year in a row, a select group of industry pioneers in digital transformation. The InsurTech 100 recognizes "innovative use of technology to address a major industry issue, or to create cost savings or efficiency gains across the insurance value chain."

About Groundspeed Analytics
Groundspeed Analytics is a major supplier of commercial P&C sector SaaS-delivered submission and placement solutions. Insurance carriers and brokers may automate the ingestion and enrichment of information in unstructured submission documents by using Groundspeed's API, the company's enterprise data pipeline solution. API access is provided for Groundspeed's complete solutions.

About Unqork
Unqork is the industry's first no-code enterprise application platform, allowing big organizations to develop, deploy, and manage sophisticated applications without writing a single line of code. Organizations such as Goldman Sachs, Liberty Mutual, New York, Chicago, and Washington, DC, and Maimonides Medical Center use Unqork's drag-and-drop interface to develop enterprise applications quicker, with better quality, and at a cheaper cost than traditional methods.

Spotlight

Properly insuring your rental property needs to be an important part of your investment strategy. Today, we have asked Terry Cleveland, an expert in landlord insurance, to talk to us about insurance policies for investment property in Indiana. She’s going to talk about what you need in a rental home policy. Remember that laws and policies are different in every state, so make sure you’re working with an agent or an insurance company that can handle your investment property insurance policy locally.

Spotlight

Properly insuring your rental property needs to be an important part of your investment strategy. Today, we have asked Terry Cleveland, an expert in landlord insurance, to talk to us about insurance policies for investment property in Indiana. She’s going to talk about what you need in a rental home policy. Remember that laws and policies are different in every state, so make sure you’re working with an agent or an insurance company that can handle your investment property insurance policy locally.

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