Athenium Analytics delivers powerful, cloud-based software to help businesses measure, mitigate and manage complex risk.

Concept description

Athenium Analytics specializes in providing solutions to help insurance companies with their growth, efficiency and continuous improvement.

To do so, the company builds software using predictive analytics to improve performance and to write smarter business.

They developed a set of models and tools, such as Iris, Gauge, Beacon, Dexter and Atlas.

Value proposition

Products

Athenium Analytics range of products has two main focuses : Quality assurance and Risk analytics.

Quality assurance:

  • Teamthink: offers a quality assurance by reducing leakage and optimizes insurance claims and underwriting.
  • Teamthink Envoy: automates the quality assurance with questionnaire builders, instant file selection and real-time results.

Risk analytics:

  • IRIS is a model allowing insurance companies to identify and analyses property risk, with a machine learning technology from high-resolution imagery. This geospatial AI delivers a unique system to reduce time and cost of an in-person property inspection. This helps in deed to evaluate damages or potential field risk. In addition, it can detect and analyse features as pool, sonar panel, skylights, or roof (type, material, conditions …).
  • Gauge provides risk scoring by analyzing historical weather data for natural hazards and catastrophic perils.
  • Beacon predicts specific weather conditions and risks up to seven days in advance. Then, it alerts stakeholders to mitigate losses.
  • Dexter helps at first the claim department to confirm natural hazard claims and then provides insights for portfolio exposure.
  • In addition, Atlas is a weather database which provides historical and forecast weather variables. Athenium also has the ability to connect via APIs and get even more weather information and forecasts.

Key value drivers

The geospatial analytic provides insurance companies different solutions such as :

  • Property change detection update
  • AAI fast-learning model train to evaluate risk factors
  • High accuracy level on property damage and faster than human
  • Historical data base that can be used to see space and time evolution
  • Classification of applicants by risk

In addition, IRIS provides notifications and updates on property changes over time, so insurers can adapt their policy quickly and efficiently. Insurance companies can also train this model to understand and identify changes caused by climate change, perils events or other damage and adjust their policy.

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