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MARKET UPDATE: Rebranded Prodinity Targets Data-Driven Insurance Demand for 2022 Growth

6 December 2021

Amid continued pressure to accelerate digital transformation, further M&A activity and data integration demand, Prodinity Founder and CEO, Theunis Viljoen, sees strong interest in combined, structured data solutions in 2022 as the business continues to expand

London, UK – Krakow, Poland – 6 December 2021: Data-driven insights specialist, Prodinity, today announced its rebrand and expansion amid strong demand for structured data solutions that are driving profits in the insurance sector and beyond heading into 2022.

Prodinity has also expanded with the opening of a new development unit in Krakow, Poland in addition to its offices in London, UK.

Prodinity – formerly Biolap – has over 15 years of experience in creating customised business insight solutions for clients in the insurance, legal and other sectors. Leading global re/insurance companies have deployed Prodinity’s solutions to support integrations post M&A – as well as due diligence processes, claims analysis, business ledger transformation, commission structure analysis, and much more.

With further M&A activity anticipated in the coming 12 months, combined with the ongoing drive to digitise and streamline processes in the re/insurance sector and gain invaluable insights from the data available, Prodinity is expecting another busy year ahead.

Prodinity anticipates additional demand to come from re/insurers seeking a quality data foundation to allow them to overlay robotics such as artificial intelligence and machine learning to enhance operational efficiencies and processes.

Prodinity aims to double its revenues each year for the next five years through organic growth in the re/insurance and wider financial services sectors, and is actively seeking out strategic alliances with companies that complement its mission.

Prodinity Founder and CEO Theunis Viljoen said:

“We are really delighted to be announcing our new brand and our expansion with a new development centre in Krakow. It is a pleasure to update the market on the scale of demand we are seeing for data transformation services as we head into 2022.

Since 2006, Prodnity has been supporting companies to harness the data locked up in their systems in order to accelerate business decision-making and improve their performance. All businesses and organisations accumulate data to various volumes in their systems. Very few really have the ability to make use of that data to improve their ‘bottom line’.

Good data is already known to be a prerequisite for any digitisation initiative in a business. We are here to refine that data to provide the fuel to power these solutions – create the data foundations to enable them to do what they do best.”

Prodinity Chief Operating Officer Glenda Dellar-Dusome said:

“We are seeing strong indications for further M&A activity in 2022, with new entrepreneurial teams of underwriters and brokers starting up across territories and classes. This leads to fresh demand for effective due diligence that really digs into the data of an acquisition target, as well as smooth systems integrations post transaction.

Claims analysis is another area in which we anticipate strong demand, and again re/insurance businesses are looking for highly relevant insights that support them in being more proactive in driving profitable underwriting decisions.

Finally, we are seeing re/insurance businesses looking for ways to gain a clearer understanding of the credit risk on their balance sheets, particularly when it comes to minimising unmatched ledgers and counter-party risk – an area where we have helped clients reduce unmatched ledgers and credit exposures by 95% in the past. This is a huge saving that has made all the difference to our clients, particularly those readying for sale.

Experienced, expert insights are required to help re/insurers increase their profitability through better use of data. It’s an exciting time for the team at Prodinity and we are looking forward to the year ahead as we continue to grow and expand in re/insurance, and further afield.”

Notes to Editors

About Prodinity

Prodinity is a leading insight solution provider. We strive to be a trusted brand known for providing exceptional insight solutions. We continue to expand our competencies and solutions for new industries. We maintain a partner network focused on long-term business relations and development.

The name Prodinity is derived from the Latin word for wisdom ‘prudentia’ and the Norse god of wisdom ‘Odin’ and encapsulates the company’s ability to create insight for our clients. Our logo signifies pulling data points together from various areas, sources and systems and transforming it into a structured insight solution with the aim to create value.

Find out more: https://prodinity.com/

LinkedIn: https://www.linkedin.com/company/prodinity-limited/

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