BUFFALO, N.Y., Oct 9, 2019 /PRNewswire-PRWeb/ -- Utilant, the provider of the P&C insurance industry's premier loss control survey management SaaS platform, announced that a series of new premium brand customers have selected Loss Control 360 in 2019, including four tier-one U.S. P&C insurance carriers, one tier-three U.S. P&C insurance carrier, a Canadian tier-one entity, and one of the largest global insurance brokers. These new customers significantly increase Utilant's market share and continue to drive global adoption of its Loss Control 360 SaaS Platform.
Utilant's successful global footprint now boasts three times the market share, based on Direct Written Premiums, of the P&C insurance survey software market compared to its next closest competitor.
"We are seeing increased demand from P&C insurance companies to find the best in class loss control management platform," said Greg Osborne, SVP of Sales at Utilant. "Our new clients recognize Utilant's Loss Control 360 as the most fully featured and configurable survey management software designed for Loss Control and Premium Audit surveys."
Loss Control 360 acts as a P&C insurance company's platform for streamlining the entire loss control business process while connecting with the insurance carrier's other core systems, inspection firms, and InsurTech companies with supporting technologies, creating enhanced capabilities to automate, identify, manage, and reduce risks. Seamless integration with core applications such as Underwriting, policy administration, claims, data warehouses, and imaging systems, allows for automated ordering of surveys, as well as in-depth data mining and the production of key metrics, to reduce losses and improve performance through the use of one global platform configuragle to the needs ot the P&C insurance carriers, brokers and inspection firms.
"Utilant's loss control products give our clients a competitive edge amidst the volatility of potential insurance claim losses," said Rob Mikulec, CRO at Utilant. "Being at the forefront of delivering a platform solution to help our clients successfully evaluate and reduce policy risk, enables us to support the core and most critical piece of their business."
About Utilant and Loss Control 360
Utilant's Loss Control 360 is the "best-in-class" Loss Control Survey Management Platform for P&C insurance and inspection/risk engineering companies, establishing its position as the hub for connecting insurance core systems, inspection firms, and InsurTechs to comprehensively transform the global insurance industry workflow. The solution supports Commercial, Personal, and Specialty lines, and is deployed via a SaaS model. Utilant's Loss Control 360 platform is used by leading Insurers around the world, as well as by top inspection vendor survey companies across North America. The Loss Control 360 platform helps Insurers to efficiently survey and score risks for an efficient underwriting process across all lines of commercial and residential business. A typical implementation provides positive ROI within the first year. More information on Utilant and Loss Control 360 is available at http://www.losscontrol360.com.