Relativity6 will predict business’ NAICS codes to assist Relay in creating smarter, streamlined insurance products.
CAMBRIDGE, Mass., March 15, 2022 /PRNewswire/ — Relay, an innovative provider of solutions which enable the digital transformation of commercial insurance and reinsurance submissions, and Relativity6, Inc., a real-time search and classification API that provides accurate 6-digit NAICS predictions and company existence checks and flags, announced today that Relay has selected Relativity6’s API to provide predictions related to industry classifications.
Nyles Oppenheimer, Vice President of Strategic Partnerships & Carrier Relations at Relay Platform said the partnership with such a forward-thinking Artificial Intelligence company will aid Relay in its mission to deliver instant, best-in-class API based quoting. “Relativity6’s capabilities complement what we are trying to accomplish. If all parties involved have confidence in the critical data points that are being shared it will create a more efficient and effective relationship between brokers and carriers that should lead to better outcomes for insureds. Our partnership with Relativity6 is a major step in that direction”
Alan Ringvald, President and CEO at Relativity6 commented: “Relay is a great partner for us. We both understand the impact of accuracy and speed on the insurance transaction and that risk classification is one of the most important pieces of information when it comes to underwriting. We couldn’t be more excited to work with Relay on advancing the future of commercial insurance.”
As more accurate and real-time company data continues to prove its value in industries across the global economy, Relativity6 and Relay are thrilled to partner to bring better and more innovative solutions to their customers.
With Relay, brokers drastically increase their close rates by securing and comparing quotes and creating winning proposals faster, for both renewal and new business. Relay is the single-entry multi-carrier comparative-rating solution that can handle all P&C lines, across all mediums including both instant (“API”) and email quoting, at any level of complexity. Relay facilitates billions in bound coverage across insurance and reinsurance annually. With an exponentially growing client base in North America, Relay also counts among the few Lloyd’s accredited London market e-platforms. Visit www.relayplatform.com or email firstname.lastname@example.org for more information.
Relativity6 is a software company out of MIT that helps organizations better search and classify businesses through Artificial Intelligence and natural language processing. For more information, please visit www.relativity6.com.