Veridion and Insillion Partner to Enhance the Commercial Underwriting workflow with Global Business Data and Risk Insights

Partnership empowers commercial underwriters with accurate, timely data and innovative underwriting platforms.

9th of October, Bucharest – Veridion, a leading AI-powered business data provider, has announced a strategic partnership with Insillion, a Insurance Sales and Underwriting platform. This collaboration integrates Veridion’s extensive global data and risk insights directly into Insillion’s cloud-based underwriting workflows, enabling carriers and Managing General Agents (MGAs) to accelerate sales, automate underwriting, and scale operations more efficiently.

Mahavir Chand, co-founder of Insillion commented: “Our partnership with Veridion enhances our ability to provide underwriters with the most accurate and up-to-date business information for data pre-fill. By integrating Veridion’s data into our low code–no code platform driven by APIs, carriers and Managing General Agents can improve the underwriting process, ensuring precision in risk assessment and pricing decisions while reducing turnaround times.”

Unparalleled Global Coverage and Data Accuracy

Veridion offers over 123 million active business profiles across more than 240 countries, providing underwriters with unmatched global coverage. The database is refreshed weekly, capturing changes in business activities, locations, risk exposures, and new businesses while promptly flagging inactive ones. By building comprehensive business profiles for companies with an active digital presence, Veridion ensures access to current and reliable business information, setting a new standard in data accuracy for the insurance industry.

Advanced Digital Presence Analysis for Timely Information

Utilizing advanced machine learning, Veridion analyzes a company’s digital footprint to provide accurate and timely firmographic details, including legal names, addresses, URLs, and comprehensive descriptions. The ability to predict industry classifications such as NAICS, NCCI, SIC, and ISIC codes enhances quote accuracy, risk assessment, pricing, and coverage. Delivering this information directly within existing underwriting workflows reduces manual data entry errors and streamlines the quote-to-bind-to-issuance journeys.

Empowering Underwriters with Enhanced Risk Identification

Veridion’s robust search functionality scans companies’ online presence to identify changes in business risk exposures, such as involvement with hazardous materials or high-risk activities. By aligning with carriers’ underwriting guidelines, Veridion enables underwriters to conduct thorough risk assessments and tailor coverage more precisely. This proactive approach leads to accurate premium calculations and better customer outcomes, ultimately enhancing satisfaction.

Florin Tufan, CEO of Veridion, stated:

“We are thrilled to collaborate with Insillion to provide underwriters with the global, accurate business data and risk insights they need. Integrating our comprehensive data directly into Insillion’s innovative platform empowers underwriters to identify risk exposures more effectively and make more confident decisions. This partnership aligns with our mission to leverage data to drive smarter, faster, and more accurate risk management in the insurance industry.”

Key Benefits for Commercial Underwriters

• Improved Decision-Making: Access to current and reliable data supports informed underwriting decisions.
• Streamlined Workflows: Integration into Insillion’s platform reduces manual data entry and errors.
• Enhanced Risk Assessment: Detailed risk exposure identification leads to precise premium calculations and tailored coverage.
• Accelerated Operations: Automated underwriting processes speed up workflows and scalability.

About Veridion

Veridion is a leading AI-powered business data provider that delivers comprehensive and up-to-date business information for companies worldwide. By focusing on data accuracy and leveraging companies’ digital presence, Veridion empowers underwriters and insurance professionals to make confident, data-driven decisions that enhance risk assessment and underwriting processes.

To explore Veridion’s global coverage, visit https://explore.veridion.com/ and access our interactive map and business data snapshot.

About Insillion

Insillion is a market leader in insurance sales and underwriting technology across India, MENA, APAC, and North America. With more than 20 years of industry experience, over 40 global carriers and Managing General Agents have chosen Insillion to modernize, transform, and scale. Insillion empowers carriers and MGAs to transform insurance submission, sales, and underwriting through a cloud-based, low code – no code platform driven by APIs.  

Read more about Insillion: https://us.insillion.com/