Case Study: Covenant Underwriters achieves faster, more accurate catastrophe risk pricing with Moody’s Analytics RMS Location Intelligence API

Covenant Underwriters - Customer Case Study

Covenant Underwriters, an insurance MGA, faced challenges in generating accurate, real-time quotes as it expanded beyond its core territories. Its traditional method of applying blanket rating factors led to mispricing and a disconnect with how its partner carriers assessed risk using catastrophe models. To address this, Covenant Underwriters turned to Moody's Analytics and implemented its Moody’s RMS Location Intelligence API to gain sophisticated, location-based catastrophe insights at the point of underwriting.

By integrating Moody's Analytics API, Covenant Underwriters could instantly generate risk-adjusted quotes that reflected specific peril hazards and vulnerability. This solution led to a dramatic improvement, with 99% of accounts now rated with technical adequacy, up from 75%. The business nearly doubled in size, premium rates saw an average 30% uplift on retained accounts, and underwriters saved significant manual quote time, enabling strategic growth into new market niches.

Covenant Underwriters

Daniel Murray

Chief Underwriting Officer