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FROM INFORMATION TO INSIGHT What gives Opta Information Intelligence a competitive edge in the market? What makes it unique? I believe our number one competitive edge is that our people possess an extraordinary amount of information about the Canadian market and specifically the Canadian insurance industry. In addition to this, we’ve also amassed the largest property data set in commercialized property. By utilizing the wealth of our dataset and our analytical capabilities, as well as our ability to understand the Canadian insurance market we have a unique perspective in the market. What advantages does the company’s technology offer? What outcomes can customers expect? We offer superior property information intelligence for underwriting purposes. Canada is the second largest country in the world; there are varying degrees of elevation, areas where there is floodplains or unprotected fire zones and then there are urban centres which have their own risks. We understand the Canadian geography and are the number one data provider to help organizations turn this into actionable insights. How has Opta Information Intelligence supported Gore Mutual Insurance in its latest digital transformation? Gore Mutual Insurance has been a very strong partner and believer in Opta’s solution. The company has also been a very helpful co-development partner in services that we’ve brought the Canadian market such as iClarify, which is the number one personalized property under-

writing quoting tool in the country. With Gore’s digital transformation, I believe that we were able to understand its unique position in the Canadian market place and respond with solutions in a customized fashion that help improve efficiency and drive improved underwriting results. Could you provide another example where Opta Information Intelligence has helped to enable digital transformation? When the Fort McMurray fire happened in Canada, nobody was able to really understand which properties were total loses and damaged or which ones weren’t. This was because you weren’t able to get on site for weeks after the fire. We were able to utilize advanced artificial intelligence (AI), satellite imagery and train computers to recognize which homes were lost and how much those losses would be. We hired a satellite to go over the area and within days of the fire, we were able to deliver a solution which demonstrated to a lot of insurers, the power of artificial intelligence, the potential of data and the realm of the possible. What does the future hold for Opta Information Intelligence? Are there any upcoming developments we should watch out for? We’re exploring opportunities within Fintech and Municipal markets within Canada. Our massive amount of data and professional attributes can offer new insights to different markets but ultimately our number one goal is to always be a relevant and meaningful partner to our Canadian insurance customers.

Profile for Business Chief USA

Business Chief USA Magazine – April 2019  

Business Chief USA Magazine – April 2019