According to a recent press release, “AgencyKPI (www.agencykpi.com), developer of the first integrated business intelligence platform designed to address and manage the overabundance of data produced by incompatible software and legacy systems across the insurance industry, today announced its launch out of stealth mode. AgencyKPI emerges into the burgeoning field of Insurtech with $3 million in seed- and strategic-round funding raised from insurance networks, carriers, independent agencies, and C-level executives in the insurance industry. Since beginning work in late 2017, AgencyKPI has quietly recruited data scientists and software engineers to build its software stack and define its network business intelligence platform in conjunction with their initial beta clients.”

The release continues, “Network clients of AgencyKPI include Combined Agents of America, Keystone Insurers Group and Pacific Interstate Insurance Brokers, which represent more than 600 independent insurance agencies, and more than $6 billion in insurance premiums. These three insurance networks are ranked among the Top 10 of the nation’s largest insurance agency networks by ‘Insurance Journal’ magazine based on total property and casualty revenue in 2018.”

The release adds, “While it’s common for software companies to enter an industry with a promise to disrupt it, AgencyKPI is taking a completely different approach. For example, insurance networks have considerable difficulty understanding how they are performing, since they are often comprised of hundreds or even thousands of individual independent insurance agencies that use disparate data or workflow systems. AgencyKPI’s new business intelligence platform for networks, called Harmony, addresses mass data fragmentation and unifies that data from those various sources, so insurance networks can begin to see how they are performing on any given level.”

Read more at Business Wire.

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