Rounding the Five-Year Mark, Who’s Using Advisen?
More than five years ago, when Advisen was just a sketch on a piece of graph paper, who could have predicted how forces (e.g., 9/11, Enron, Worldcom, Elliot Spitzer, etc.) would impact the commercial insurance arena? None of us had a clue how important the need for data, analysis, and transparency would become for underwriters, brokers, and risk managers amidst great volatility and change.
We began our business in mid-August 2000 with the essential ingredients: capital, product development, and elbow grease. Today, our work-in-progress called Advisen is employed by thousands of insurance professionals worldwide, and the Front Page News you are reading now was received by almost 50,000 P&C people.
Seventy-five Fortune 1000 companies have Advisen in their risk management departments. We also offer a la carte benchmarking services to 500 companies via our affiliations with RIMS and ASHRM. Advisen is used by risk consultants and law firms with insurance practices, too.
Why do risk managers use Advisen?
Company and peer risk exposure analysis;
Financial analysis of insurance companies;
Risk assessment via news and litigation research;
Benchmarking for independent verification;
Policy and law comparisons; and
Program management.
Some 30 insurance carriers use Advisen to analyze risk exposures from submissions, as well as their overall book of business.
Why do carriers use Advisen?
Client and industry data;
Underwriting work-ups;
Loss analysis; and
Marketing and product development.
Over 125 unique brokerage firms now utilize Advisen to retain business and grow organically.
Why do brokers use Advisen?
Client and industry data;
Prospecting for new business;
Policy and law comparisons;
Benchmarking for independent verification; and
Program management.
Some clients have many Advisen subscriptions throughout their various offices, departments, and practices. Others have just one seat as a central research and customer service tool. In either case, we are grateful for their patronage as we grow our business.
To the many participants in the insurance industry, thank you for challenging all of us at Advisen to deliver the best tools and analytics available. To better serve you, we are pleased to announce that Advisen has moved into a new, much larger space in midtown Manhattan at 205 East 42 Street. We look forward to a prosperous future providing Insight to Insurance Professionals.
Thank you and regards,
Tom
Thomas P. Ruggieri, CEO
212.897.4777