The towerIQ Advantage

Solving the most challenging customer data problems in insurance

Why towerIQ?

If data is the new oil, why does the insurance industry have to be left behind? We are a team that believes data is the key to engaging customers on a more regular basis. With towerIQ's real-time data analytics, we'll drive a better understanding of your business along the value chain⏤resulting in a deeper advisory role for providers and surfacing more opportunities for value creation. We are focused on simplifying how data is connected to all of your people, systems, and partners. 

Unlocking this siloed insurance data is the key to becoming a trusted advisor. To execute on this vision, we had to address the hardest to solve insurance challenge first: creating a common data structure (aka language translator). This data normalization layer is the key to empowering people closest to the client to deliver efficient, actionable experiences at every touch point.

The result is that towerIQ is the only market-neutral solution which helps insurance companies of all business models and sizes do the following:

1. Execute straight-through processing for custom client applications

2. Become a data-driven, trusted advisor

3. Embrace a digital future ripe with new ecosystems

Our Mission and Vision

Our vision is that every client-facing employee at every brokerage, agency, MGA, reinsurer, and carrier becomes a trusted advisor to their clients. We believe a deeper client advisory role is required to win in the emerging digital insurance landscape.

We believe solving data normalization and connectivity uncover the greatest value for customers. Rather than simply trying to map data to a few industry-standard data structures, the platform needs to be flexible enough to handle any type of custom data structure to and from any system. 

These solutions need to be delivered without the need for deep technical skills or coding, so account managers, brokers, business analysts, or operations users can work with data in an intuitive, visual way. Insights and data need to be transparent and accessible by all parties, but in concert with internal IT partners so access controls and security safeguard against compliance violations.

Our History and Team

TowerIQ is an enterprise SaaS company founded to create simple, yet powerful digital experiences that revolutionize the way people work in the insurance industry. As the industry evolves and new products and services are required to meet customer needs, we help change the way people work.

TowerIQ was founded in 2017 by Adam Demos (AppAnnie), Dan Hurwitz (Willis Towers Watson), and Michail Medvinsky (Plastiq and Fidelity) to revolutionize the way that clients, brokers, and carriers collaborate and execute business across the value chain. 

Using his experience taking data analytics tools to market with AppAnnie, Adam formed towerIQ with a mission to help commercial insurance customers surface deep insights and uncover new business opportunities in their data.

Adam then connected with Dan who, as a former insurance agent, had experienced first-hand how difficult it was for insurance agents to work on a daily basis. Dan regularly needed to collect placement and exposure data that was stored in a wide variety of unstructured formats and siloed systems. This meant he was constantly, manually re-keying information from PDF files into multiple Excel spreadsheets in order to create policy applications or renewals.  He and his fellow agents were losing the majority of the day that they could have used to sell and interact with customers.

Michail finally rounded out the team by bringing his wealth of technical experience in the financial industry. He already had a deep understanding of how to deliver a flexible, data-first platform that could handle both industry-standard file formats and custom, company-specific data structures. This became the nucleus of skill sets required to aggressively attack the problems our commercial insurance customers struggle with every day.

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