E!9102 CASSIUS: Communication and Assessment Strategic Solution for Insurance Underwriting and Surveys

CASSIUS is a project focusing on the development of a novel software solution for more reliable, faster and cost-efficient insurance assessment and information exchange in the insurance business. The aim is to address and improve the current standards of claims assessments with a GNSS-powered system and develop image communications, security and Business Intelligence tools that significantly evolve the way the insurance industry is run. The solution includes assessments for underwriting (policy issue assessment), claims and appraisal management. With the Solvency II EU Directive in force by 2016, the need for early warning systems that can absorb and evaluate risk in insurance companies are on the rise. Infrastructures must provide early warning mechanisms to enable prompt intervention if capital falls below required levels and promote confidence in the financial stability of the insurance sector. Globally more than 3 million non-life insurance claims occur every day, costing the insurance industry well in excess of Euro 1bn in Europe, daily. By creating a tool for more effective claims processing, CASSIUS could create a multi-million EURO product. The CASSIUS solution will: - Provide trustworthy observations with real time interaction with the claimant and assessors. - Allow real time First-Notice-Of-Loss (FNOL) that gives more accurate estimates and reserves, and prevent consequential damage, limits liabilities and ensure quicker repairs and settlements - Give claims handlers a total overview with all parties involved, dispatch service providers, artisans and investigators. Van Ameyde, one of the largest claims handlers in Europe, is partner in the project. Van Ameyde will ensure a rapid market penetration in Europe through their client network consisting of over 300 large insurance companies.

CASSIUS will develop a novel software solution for more reliable, faster and cost-efficient insurance assessment information exchange in the insurance hierarchy. The assessments include underwriting (policy issue assessment), claims and appraisal management. We want to address and improve the current standards of assessments done in the insurance industry with a GNSS-powered system and develop image communications, security and insurance BI tools that significantly evolve the industry. With the Solvency II EU Directive for harmonizing the EU insurance regulation in force by 2016, CASSIUS has a window of opportunity. Infrastructures must provide early warning to supervisors so that they can intervene promptly if capital falls below required levels and promote confidence in the financial stability of the insurance sector. CASSIUS will supply a solution that the whole non-life sector needs to adapt shortly. Globally more than three million non-life insurance claims occur every day, costing the insurance industry well in excess of Euro 1bn in Europe, daily. (ref. Insurance Europe/ABI). Partner Van Ameyde is one of the largest 3rd party claims handler in Europe and is key for market penetration. AnsuR will sell SaaS to the insurance companies while Van Ameyde will retain existing, and expand on new, customers.