Aquarium has won the Best Cloud Automation Solution Award at the Computing Cloud Excellence Awards 2021. The Computing Cloud Excellence Awards acknowledge the best of the UK’s cloud industry, from the most innovative and compelling products and vendors to the top use cases from end-user companies.
The winners of the awards, which are awarded by IT publication Computing, were announced at a live awards ceremony in late September at The Montcalm London Marble Arch Hotel. The awards recognise how the cloud can enable organisations to be agile and respond to changing market conditions, and to experiment with new digital products, tools and innovations.
The judging panel recognised that Aquarium’s platform is a fully configurable digital solution that enables insurers to create, market, manage, control, and administer insurance policies online. Using Big Data, Artificial Intelligence and Machine Learning to gather, monitor and analyse pet insurance market data in real-time, the platform makes it possible for insurers to offer the most accurate, customised and competitively priced policies to pet owners.
The Aquarium platform also enables insurers to fully automate the claims process, vastly reducing manual intervention and paperwork. Machine Learning applications overlay the core platform to analyse market data, generating improved levels of accuracy in claims management and reducing fraud. Most claims can be settled automatically and those that cannot, can be investigated and approved in a few clicks. Insurers using the automated platform see a dramatic reduction in operational costs, resulting in lower premiums for pet insurance customers, driving customer loyalty in a competitive marketplace.
This award win reflects Aquarium’s long-term commitment to help insurers provide a better service to their customers. As Aquarium’s digital technology is cloud-based, it can be deployed remotely to an insurance business anywhere in the world. There is no requirement for major software coding, investment in complex IT integration or major retraining of policy or claims management staff.
Commenting on the award win, Mark Colonnese, Director at Aquarium, said: “Most of the Aquarium team are pet owners, so it genuinely makes us happy to be recognised for making pets lives better by offering enhanced insurance services for pet owners. We see this as a win, win situation as our technology offers a specialist digital platform to help insurance companies create truly compelling propositions for the fast-growing global pet insurance market.”