Insurance Distribution Investing Group (IDIG) and Risk Transfer Insurance Agency (RTIA) have set up a new financial analytics firm, i3 Analytics, for insurance industry.
The new firm will focus on the development of specialized products and services for the insurance industry.
In particular, i3 Analytics will offer predictive modeling software, data visualization services and web-based mobile applications to the insurance agencies, investment banks and private equity companies.
i3 Analytics president Arthur Frisch said: "We save our clients money and time by providing a turnkey solution to insurance agency data segmentation and analysis.
"We are making a positive impact on the culture and processes of our clients, which enable them to maximize the value of their business."
Risk Transfer Insurance president Dino Fabrizio said: "i3 delivers accurate, historical, current and relevant data that is organized with visuals that far exceeds user demands. i3 makes complex and dynamic data simple, intuitive, and actionable."
Separately, RTIA joined forces with WageSecure to introduce new unemployment insurance product for professional employer organization (PEO) industry.
The new product will be provided on a group basis, allowing employers to offer income protection to their employees either as a paid benefit or on a voluntary basis.
Image: i3 Analytics will provide modeling software and data visualization services to insurance agencies. Photo: courtesy of renjith krishnan/ FreeDigitalPhotos.net.