Coterie Insurance Leverages Weather Data from Opterrix to Make Real-Time Catastrophe Underwriting a Reality

CINCINNATI, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Coterie Insurance, the partnership-focused insurtech transforming small business insurance, today announced a new partnership with Opterrix to use the data company’s weather modeling to enhance Coterie’s small business insurance underwriting capabilities. The partnership helps power Coterie’s automated underwriting decisions based on weather and property exposures while creating a customer-centric claims experience.

“We have been exceedingly impressed by Opterrix’s innovative technology and are thankful for their assistance with our preparation for Hurricane Ian,” said Coterie’s Director of Underwriting Jaclyn Johnson. “Their expertise in weather-related risk will help to strengthen our underwriting decisions and streamline our claims management processes. We’re excited to collaborate with the Opterrix team to further revolutionize CAT management in digital underwriting.”

Days before Hurricane Ian made landfall in late September, Coterie worked with Opterrix to leverage real-time emerging data about impacted property in the projected hurricane path. This data enabled Coterie to issue an immediate moratorium, allowing the team to fully focus on supporting impacted policyholders in the storm’s path.

“We are so excited to partner with Coterie and help fortify their proactive risk management strategy,” said Ben Zimmerman, CEO and co-founder of Opterrix. “Our mission is to help forward-thinking insurers identify, quantify and mitigate avoidable losses. Coterie’s exceptional leadership has a clear vision for how Opterrix will drive their sustained growth, and we are honored to be their vendor of choice.”

Opterrix uses advanced data science and integrated workflows to drive innovative strategies throughout the insurance value chain. With Coterie’s focus on strategically employing technology and data to simplify and enhance the small business insurance experience, the partnership allows the use of emerging property and weather data to support underwriting decisions.

About Coterie Insurance

Coterie Insurance is revolutionizing small business insurance by enabling instant coverage. By sourcing publicly available data, Coterie's technology employs digital underwriting to enable a transparent and accurate quoting and binding process. Coterie arms agents, brokers, and partners with cutting-edge tools to get small businesses the coverages they need. With the most expansive appetite on the market, Coterie is dedicated to seeing the small businesses of today succeed. For more information about Coterie Insurance and the digital transformation of small business insurance, go to coterieinsurance.com.

About Opterrix

Opterrix is a proactive risk management platform that empowers insurance carriers to achieve sustained profitability through innovative data science and automated workflows. Opterrix streamlines and automates time-sensitive decision-making throughout the insurance value chain with:

• Real-time accumulation analysis and moratorium automation
• Intelligent storm monitoring and automated notifications
• Proprietary weather data algorithms
• Street-level storm analysis and predictive claims modeling

To learn more about Opterrix, please visit Opterrix.com or follow us on LinkedIn.

Contact

Ben Zimmerman[email protected]

Source: Opterrix, Inc.