Falcon Risk Services Digitizes Professional Liability Offering on Cogitate DigitalEdge Insurance Solutions

Atlanta, Georgia 9/12/24: Falcon Risk Services, an MGA majority owned by HDI Global Specialty, a wholly owned subsidiary of HDI Global SE, has gone live on both Cogitate’s DigitalEdge Policy and DigitalEdge Claims solutions to manage the full lifecycle of its professional lines of coverage. Cogitate, a leader in accelerated digital insurance solutions for P&C Carriers and DUAEs, has launched Falcon Risk Service’s digital initiative for both policy and claims in just 7 months.

Just 3 years ago Falcon Risk Services opened its doors in the US market to offer professional liability lines of business, including management liability, financial, cyber/tech E&O. The acceleration of business necessitated a swift move from manual processes to a digital platform to speed response to the market and expand its offering.

“Cogitate’s understanding of insurance operations and processes was critical to developing and implementing an aggressive timeline to launch. Their ability to conceptualize the transformation of our manual workflows accelerated the customizations we required specific to the complex risks we underwrite. The ease of integration with data providers and solutions specific to our goals for greater efficiencies is a huge outcome of this implementation,” explained Craig Landi, Founder and CEO, Falcon Risk Services.

“We’re excited to have Falcon Risk Services join our family of innovative customers. We share their passion for data, analytics, AI, and predictive modeling to streamline submissions, reduce underwriting cycle times, and facilitate insights for highly informed decision-making across the organization,” shared Arvind Kaushal, CEO and co-founder of Cogitate.

Falcon’s launch of Excess Follow form was the first of a 20-product rollout planned for the next 18 months. Their integrations with third-party data providers such as sanctions.io, S&P Global Market Intelligence, Falcon’s producer API, and the ability to leverage Falcon’s first-party data are game changers for their underwriting and claims teams. Submission processing and underwriting cycle times have been significantly improved. Critical to this implementation, Cogitate migrated claims history onto the new platform for a cohesive transition to the digital experience.

About Falcon Risk Holdings

Falcon Risk Holdings, operating as Falcon Risk Services, is a managing general agency focused on underwriting and claims management of financial, professional, and cyber lines of insurance business throughout the United States. Falcon uses an analytical approach to underwriting and claims management while also leveraging deep and longstanding broker relationships to nationally distribute its management, professional, and cyber liability portfolio of products.

About Cogitate

The Cogitate DigitalEdge Insurance Platform digitalizes insurance across the value chain, offering insurance carriers, MGAs, wholesale brokers, and program administrators a smooth transition to cloud-native, data-driven core underwriting, policy, billing, and claim applications. The unified insurance platform unlocks the value of first-party data and advances the power of third-party data for profitable growth, superior risk selection, and a streamlined, modern user experience.

Backed by more than 100 combined years of comprehensive experience and domain knowledge, our products are uniquely designed to meet the needs of insurance businesses of every size. Find out how Cogitate maintains 100% client retention at www.cogitate.us.

About HDI Global SE (HDI)

As a Commercial and Specialty lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies, middle market and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI’s prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. Acting as the Partner in Transformation, HDI Global SE leads more than 5,100 International Programs and offers its multinational customers compliant coverage worldwide.

HDI Global SE is the Industrial Lines Division of the Talanx Group and has been a leading insurer for several decades. Approximately 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 9.1 billion in the year 2023 (according to IFRS 17). The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and AM Best has assigned the A+ Rating. Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.