- 5 September 2018 09:07
Finity Consulting launches new technology and analytics platform in partnership with IXUP
5 September 2018: Secure data and trusted collaboration company IXUP Limited (IXUP) (ASX: IXU) has partnered with Finity Consulting, Australia and New Zealand’s largest independent actuarial and analytics consulting firm, to launch a new technology and analytics platform designed for insurers, regulators and industry bodies to embrace next generation analytics.
IXUP is an Australian technology company that has developed a unique approach to collaborating data from multiple organisations to derive value. Unlike risky data sharing practices, IXUP’s secure data collaboration never exposes data – not even to other participants in the collaboration.
The secure platform launched at a client breakfast event held in Sydney today, will enable Finity to gain deeper insights from additional data sources that are not limited to what an insurer collects, for example, through quotes, policy inception, endorsements, claims and renewals. Layering external data improves product matching to an individual’s specific circumstances and claims management.
Commenting on the launch of the new platform, IXUP Founder & Executive Director Dean Joscelyne, said: “Insurers have a business imperative to connect external data sources, yet there’s absolutely no tolerance for insecure practices. Finity understand data sources simply cannot be safely connected and robust analytics conducted unless the data is 100 percent protected at all times, and that’s where IXUP comes in. Our Australian developed software platform removes those risks and barriers, allowing for secure data collaboration. We’re thrilled our partner has chosen to trust in IXUP’s technology.
“Customer expectations have changed. We’re in a digital era now - insurance companies need a more holistic view of their customers, and they need to make better informed decisions operationally and industry-wide. This is innovative work that’s accelerating the next generation of analytics. At IXUP, we’re excited to be a part of enabling secure data collaboration for our partner Finity.”
Aaron Cutter, Principal at Finity Consulting, said: “The Finity-IXUP partnership will give insurers a new level of capability in using more data sources for effective decision-making while maintaining absolute control over their own data. IXUP’s unique platform enables Finity to better understand and explain trends in performance through advanced analytics across multiple data sources, including common personal information.”
The introduction of the IXUP platform will remove the barriers for insurers to collaborate and enrich their own data to improve pricing, underwriting and claims management. Increased collaboration may also see the insurance industry reap the benefits from the potential improvement in fraud detection and prevention – this would mean lower costs that would ultimately be passed on to consumers via lower insurance premiums.
To find out more about how IXUP works, watch the following video https://ixup.com/overview-video/.
Founded in 2011, IXUP (pronounced 'Eyes Up') developed an innovative software environment providing security of data in trusted data collaborations. The IXUP environment helps organisations collaborate using multiple sources of data and therefore derive deeper insights to inform business strategy and gain competitive advantage. The environment is unique with its patented approach to security and matching which overcome security and technology challenges inherent in data sharing models. IXUP is headquartered in Sydney, Australia.
Finity is Australia’s largest independent actuarial and analytics consulting firm. As one of the biggest employers of actuaries, Finity’s market-leading technical analysis is at the core of everything they do. Finity has evolved into a notable data analytics firm, working with some of Australia’s leading organisations and brands to provide analytics and consulting advice that provides commercially- aware solutions. Finity is also a ‘data-first’ company with the courage to embrace new technology to provide innovative solutions.
IXUP Media Contact
Jeffrey Coote | Filtered Media | M: +61 404 275 665 | E: firstname.lastname@example.org
Finity Media Contact
Emma Orpilla | Marketing Manager | M: +61 408 608 430 | E: email@example.com