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CoreLogic Adds Underwriting Capabilities to Suite of Insurance Products
—New Solution Automates Workflow and Modernizes Underwriting—
IRVINE, Calif., August 8, 2017 - CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced it has expanded its strategic capabilities with insurance underwriting solutions provided by Myriad Development. The combined assets of Myriad's industry-leading automated underwriting platform with the robust property data and imagery from CoreLogic will create a simple-to-use, efficient, proprietary solution that will transform and modernize underwriting for the insurance industry.
Established in 1999, Austin, Texas-based Myriad Development specializes in business process management products and services for many of the nation's largest insurance carriers, real estate companies, and government agencies.
Myriad expands CoreLogic property underwriting capabilities through the combination of its unique information on location, structure, environment, occupant, and property imagery with Myriad's advanced end-to-end underwriting technology. The Myriad UnderwritingCenter™ centralizes rules-based decisioning and actionable intelligence from all points of the property insurance lifecycle including underwriting, agency, direct-to-consumer, and claims.
"Myriad shares the CoreLogic commitment to help our industry evolve to meet rapidly changing consumer expectations in our digital economy," said Steve Brewer, executive, CoreLogic Insurance and Spatial Solutions. "Our combined solution will help carriers set a new benchmark for underwriting efficiency and accuracy while enabling an easy and transparent customer and agent experience."
The SaaS-based platform offers customers speed to market with little dependency on internal technical resourcing. In addition, the self-learning model uses intelligent logic which incorporates historical information and previously established rules-based parameters to inform future decisioning. This allows for even greater efficiency, precision, and information transparency in underwriting which delivers significant cost savings to the process. Users of the Myriad platform have experienced between four-to-seven times return-on-investment due to cost savings from fewer physical inspections required, reduced labor costs, loss-cost avoidance, and other process efficiencies that resulted in bottom-line savings.
"We're delighted to combine our expertise with CoreLogic to create an even more productive and profitable underwriting process," said Chris Roussel, CEO, Myriad Development. "This is an ideal union that will transform the process, cost and timing of today's underwriting, resulting in a quantifiable, bottom-line result for our clients."
For more information, visit http://www.corelogic.com/landing-pages/corelogic-insurance-solutions.aspx.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo and Myriad UnderwritingCenter are trademarks of CoreLogic, Inc. and/or its subsidiaries.
Sherman & Company Served as Financial Advisor to Myriad Development, Inc.