CFC has acquired a London-based insurtech whose data enrichment technology helps insurers better understand their customers’ exposures.
ThreatInformer uses big data and machine learning to compile readily available information about an insurer’s risk profile from a variety of external sources.
CFC intends to integrate ThreatInformer’s capabilities into its own suite of technology, which the insurer said will streamline and improve key activities in its underwriting process and uncover patterns in claims data to help predict and prevent client losses.
ThreatInformer is CFC’s second acquisition in the past six months, following the insurer’s acquisition of incident response firm Solis Security.
Both deals seek to expand CFC’s technical capabilities in key areas of underwriting and claims handling.
CFC chief executive officer Dave Walsh said of the acquisition: “Putting technology and data at the heart of everything we do is what sets CFC apart and is critical to staying competitive in today’s market. Bringing ThreatInformer’s unique technology in-house was a natural next step for us and builds on a number of exciting projects already underway.”
CFC recently released the latest version of its cyber insurance platform, which offers brokers the ability to generate a cyber quote with just a single piece of data.
Walsh continued: “Our new cyber platform is just one example of how CFC are using data in innovative ways to vastly improve the process of buying and selling insurance.”
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