ORLANDO, FL., June 1, 2016 – In a featured interview for A.M. Best, Mark Lange, i3 Board Member and Arch Insurance Group Senior Vice President of P&C Programs, discussed the opportunities and benefits of data and analytics in the insurance industry. The interview was featured on A.M. Best TV and in the Best’s Review magazine publication (June edition).
“We see the opportunity to drive more granular decisions around underwriting actions, around profit improvement, and around growth initiatives using data and analytics.”Mark Lange
“We see the ability for carriers to work very closely with their MGA’s to harness the data that exists,” said Mark Lange, “there is a tremendous amount of data in the program part of the marketplace that has not been as fully utilized as it can be over time.” Mr. Lange also discussed how rising interest from carriers and capital providers is fueling a surge in new programs and distribution opportunities.
About i3 Analytics LLC
i3 Analytics LLC is a data analytics venture backed by the Insurance Distribution Investing Group (IDIG) and Risk Transfer Insurance Agency. IDIG is a joint venture between private equity partner Dowling Capital Partners and insurance agency conglomerate the Capacity Group of Companies. i3 currently works with insurance companies, investments banks and private equity companies providing predictive modeling software, data visualization services and web-based mobile applications. i3 technology has processed more than $15 Trillion of payroll, premium and claims data since inception.
About Arch Insurance Group
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid.