CFC insurance, a specialist insurance provider, has acquired UK-based insurance technology firm ThreatInformer for an undisclosed sum.
By tapping big data and machine learning, data enrichment technology of ThreatInformer aids companies to better understand their customers’ exposures by compiling available information about their risk profile from several external sources.
Following the integration of ThreatInformer’s technology with its own host of technologies, CFC aims to streamline and boost activities in the underwriting process besides finding out patterns in claims data to help in prediction and prevention of client losses.
CFC CEO Dave Walsh said: “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.”
Recently, CFC announced the latest version of its platform for cyber insurance. This platform enables brokers to produce cyber quote through 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.”
For CFC, ThreatInformer is the second acquisition in the last six months after its purchase of Solis Security, which is an incident response firm.
Headquartered in London, CFC serves more than 70,000 businesses in over 80 countries.