The insurance industry faces an ever-evolving landscape of risks, from natural disasters to complex portfolio exposures. Traditional underwriting methods often struggle to keep pace with the speed and sophistication required in today’s market. Enter Hawkeye – Symfos’s cutting-edge risk assessment tool that’s transforming how insurers pre-quote, visualize their PML, and manage risk across their portfolios.
Insurance underwriters today grapple with several critical challenges:
These challenges don’t just impact operational efficiency – they directly affect an insurer’s ability to price risks accurately, manage exposures effectively, and respond swiftly to emerging threats.
Built on Symfos’s proven Orchestra platform, Hawkeye addresses these challenges head-on with a sophisticated yet intuitive approach to risk assessment. The tool seamlessly integrates advanced analytics, real-time data monitoring, and visual risk mapping into a single, powerful platform.
1. Advanced Geocoding and Risk Mapping
Hawkeye automatically converts addresses into precise geographic coordinates, providing detailed location-based risk assessments. Visual risk maps display flood zones, seismic activity, and other perils, enabling underwriters to make informed decisions at a glance.
2. Real-Time Portfolio Management
The platform aggregates risk data across entire portfolios, enabling underwriters to assess the impact of new quotes on overall exposure. This comprehensive view prevents dangerous risk concentrations and optimizes portfolio balance.
3. Marginal Impact Analysis
At the point of quoting, Hawkeye provides instant insights into how new policies will affect existing portfolios. This feature is crucial for maintaining optimal risk distribution and avoiding overexposure in specific geographic areas or peril types.
4. Customizable Peril Scoring
The tool offers configurable scoring systems for various risks – flood, earthquake, subsidence, and more. Insurers can tailor these assessments to match their specific risk appetite and underwriting guidelines.
5. Seamless API Integration
Hawkeye connects effortlessly with existing systems and external data providers, including flood data from JBA and crime statistics from police databases. This integration eliminates data silos and enhances workflow efficiency.
6. Automated Bulk Data Processing
Cover holders can upload large datasets through user-friendly templates, reducing manual entry errors and accelerating the underwriting process.
Enhanced Decision-Making Speed
With instant access to comprehensive risk data and visual analytics, underwriters can make informed decisions faster than ever before. What once took hours of manual research now happens in minutes.
Improved Risk Assessment Accuracy
By combining multiple data sources and sophisticated modeling capabilities, Hawkeye delivers more accurate risk assessments, enabling better pricing strategies and reduced losses.
Proactive Risk Management
Real-time monitoring and automated alerts enable insurers to respond to emerging risks before they become major exposures, shifting from reactive to proactive risk management.
Operational Efficiency
Automation and system integration reduce manual processes, allowing underwriting teams to focus on high-value strategic activities rather than routine data gathering and analysis.
Competitive Advantage
Advanced risk assessment capabilities position insurers as market leaders, attracting clients who value sophisticated risk management and potentially improving client retention.
Insurance Companies
Organizations quoting single risks or portfolios, diverse portfolios across multiple geographic regions gain unprecedented visibility into their risk exposures and can optimize their underwriting strategies accordingly.
Managing General Agents (MGAs)
MGAs benefit from enhanced risk assessment capabilities that help them better understand and manage their portfolio exposures, improving their relationships with capacity providers.
Specialty Lines Underwriters
Whether focusing on property risks like care homes, commercial real estate, or specialized industrial risks, Hawkeye’s customizable features adapt to specific underwriting needs.
The effectiveness of Hawkeye has been demonstrated by major insurers like Aviva. The platform has consistently delivered:
As the insurance industry continues to evolve, the need for sophisticated, integrated risk assessment tools will only grow. Hawkeye represents the next generation of underwriting technology – combining the power of advanced analytics with the simplicity of intuitive design.
Built on Symfos’s proven Orchestra platform and trusted by industry leaders including Aviva, MS Amlin, and Canopius, Hawkeye offers insurers the tools they need to thrive in an increasingly complex risk environment.
Ready to transform your risk assessment capabilities? Contact Symfos today to schedule a personalized demonstration of Hawkeye and discover how this powerful tool can revolutionize your underwriting operations.
Symfos is a specialist software provider to the (re)insurance industry with special emphasis on the Lloyd’s of London market. To learn more about Hawkeye and the Orchestra platform, visit www.symfos.com or request a demo today.
Bradford has many years of experience in Business Development, as a Senior Sales Director, and Leader with over 20 years P&C Insurance experience and over 10 years selling complex SaaS technology into Enterprise accounts.
