RiskAPP is a new Risk Assessment tool created to assist insurers globally. RiskAPP is a unique platform for structured data collection and integrated risk assessment. RiskAPP helps insurers to use captured data from their prospects and clients to sell and underwrite the risks wisely and profitably. The RiskAPP is a complete Risk Assessment tool for the insurer that wants to win his challenges. Unfortunately, the penetration of Business Interruption insurance in the SME sector is extremely low. Statistics show that 96% of SMEs do not have adequate Business Interruption coverage. On the other side, the insurance industry doesn’t feel comfortable in providing Business Interruption coverage due to the uncertainty surrounding the potential magnitude of claims. This leaves 450 bn USD market from being exploited. Thanks to the technology developed by RiskAPP, insurers will feel comfortable in providing BI and CBI coverages. RiskAPP gives confidence to the carrier that the proper risk selection has been placed, thanks to the detailed information about the insurers.

RiskAPP delivers the most complete risk assessment possible. Through the platform the insurer can offer the most remunerative coverage program giving safety and peace of mind to insurance clients and the insurance carriers. The sales process is now smooth and seamless. When the broker has the first meeting with a prospect, the RiskAPP data collection helps the broker to engage the client. The process follows with the technical inspection where the loss preventionist gathers further technical data that clearly describes the company. RiskAPP, thanks to its proprietary algorithm, processes the data collected and elaborates a detailed report included with automated loss protection recommendations. The insurer now has access to the most complete risk profile of the insured. RiskAPP enables analytics, portfolio management and helps in increasing the efficiency of risk selection.

Why we selected RiskAPP for DIA Barcelona
RiskAPP represents a much needed business application in the market for commercial lines risk assessment. RiskAPP has been recognized by leaders in the world of insurance and re-insurance as an innovative service that will help the insurers sell more insurance and will assist the insureds in identifying and securing the appropriate coverage. The service provided by RiskAPP enables the digital transformation in analytics and has solid proprietary technology that has been developed during years of academic research. All this is now integrated with the most advanced technologies such as machine learning, SaaS, cloud distribution.

Who is RiskAPP
RiskAPP is backed by the number 1 P&C insurer in Italy. It is a team of 8 enthusiast and passionate friends with backgrounds in engineering, insurance, quantitative finance, design, and IT. Team members have past-experiences in 5 continents. RiskAPP works with insurers and re-insurers worldwide. The team and their advisors bring more than 200 years of combined experience to the table. Moreover, RiskAPP has been awarded prizes from ING, Deloitte, UnipolSAI, Mundilab Munich Re, etcetera.

Presenting at DIA Barcelona: Federico Carturan, CEO

Website: www.riskapp.it