SAN FRANCISCO, July 12, 2022 (GLOBE NEWSWIRE) -- Archipelago, an AI-driven technology platform that connects, validates and analyzes property risk data for large commercial property owners, today announced the ability for customers to integrate their loss history data with their property exposures on the Archipelago platform.
Archipelago is already transforming how large property owners manage, analyze, validate, and securely share their property exposure data with their broker and insurance partners across the market. Over $7 trillion of total insured values of commercial property are already on Archipelago’s SaaS platform that digitizes disconnected spreadsheets and documents into a Smarter SOV™. By linking historical loss experiences to uniquely identified properties, and doing so over time, Archipelago's customers can now obtain a more comprehensive understanding of historical trends and key drivers of risk. Additionally, users can share this data-driven experience and its relevance more effectively with their insurance partners.
“Having a detailed loss history that is readily available on platform lets us share our full narrative and build trust and transparency with stakeholders,” said Deborah Ravetti, Risk Manager at Shorenstein, a real estate investment company with $8 billion in assets. “The details do more than just quantify the loss, they put it into context. Losses can come from a variety of incidents and if we fix the root cause, it allows us to communicate and demonstrate our loss prevention/mitigation measures and overall proactive risk management program. It impacts our outcomes as well as accomplishing our goal of transparency and moving towards a more sustainable model.”
Included with this product update are additional enhancements to user access and security controls. Customers can now provide access to insurers by domain or on an individual basis via email address. Property risk data is sensitive information, and Archipelago gives its customers and their broker-partners the confidence to securely manage and share access to this data with their insurance markets.
“Empowering our customers with the ability to integrate their loss experiences to their exposures, identified uniquely to individual properties and trended over time, empowers them to better understand their drivers of risk, shape their risk management strategies, and more proactively communicate these experiences to their insurers,” said Hemant Shah, CEO and Co-Founder of Archipelago.
About Archipelago
Archipelago is an AI technology and data analytics company transforming how commercial property risks are understood and managed by owners, operators, and risk managers. The high-quality data generated through Archipelago’s platform can be shared securely with stakeholders to deliver innovative services and solutions to their customers. Learn more at OnArchipelago.com.
Media Contact:
Ben Carter
Broadsheet Communications for Archipelago
bencarter@broadsheetcomms.com
