Use Case

Detecting Underwriting Exclusions

Fusionbase enhances the capabilities of commercial and industrial insurers to detect underwriting exclusions by utilizing external data, ensuring companies engaged in prohibited activities are accurately identified.

How to do it:

Use granular business activity data to detect prohibited activities outlined in underwriting guidelines.
Analyzing networks of associated persons to uncover potential red flags indicating engagement in prohibited activities.
Reviewing financial publications to identify incorrect statements in the application process.

Fusionbase Data Hub

External Data to Detect Underwriting Bans

By analyzing external data sources, insurers can gain an in-depth understanding of company activities, identifying those that fall under underwriting prohibitions. This approach allows for a more informed and secure underwriting process.

Company Data: Check whether information like name, address, legal form or managing directors match with your portfolio.
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Business Activities: Recognize individual activities that fall under underwriting exclusions and deviate from the information provided.
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Financial Indicators: Compare the information provided with official publications and observe deviations over a longer period of time.
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Your Benefits

Enhanced Compliance: Ensure adherence to underwriting rules and regulations by identifying non-compliant companies quickly.
Risk Reduction: Mitigate risks associated with insuring companies engaged in prohibited activities, protecting the insurer's interests.
Improved Accuracy: Leverage advanced data analytics for precise identification of companies engaging in excluded activities.

Without Fusionbase

Time-consuming manual searches with a high risk of oversight

Incomplete understanding of company activities leading to potential non-compliance

Reliance on self-reported information from companies, increasing the risk of inaccuracies

With Fusionbase

Automated detection of prohibited activities through comprehensive external data analysis

Enhanced understanding of company operations for accurate underwriting decisions

Reduced dependency on self-reported data, minimizing the risk of insuring non-compliant companies

How Gothaer detected suspicious contracts

Gothaer leveraged the Fusionbase Data Hub to detect suspicious contracts and identified 7% within their portfolio.

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