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Who’s using what in P&C insurance: Sept. 11, 2017

Technology news from Farmers, VUE Software, Sapiens, RIMS and more.

By PropertyCasualty360 | Updated on September 11, 2017
“Increasingly, strong risk management capabilities are becoming universally accepted as an essential organizational asset,” RIMS President Nowell Seaman said in a press release about the organization’s partnership with Peking University, seen here. “We are always proud to share our risk management resources, expertise and tools with our peers around the world and recognize the importance of supporting the next generation of practitioners.” (Photo: www.pku.edu.cn)

A new Farmers Insurance® skill for Amazon Alexa allows customers to access policy and claims information simply by using their voice. Through Alexa, Farmers® customers can inquire about the status of their claim and obtain the direct contact information of their assigned claim representative. They can also verbally pose frequently asked questions about insurance terminology, policy coverages, deductibles and limits. The launch of the Farmers Insurance skill for Amazon Alexa is the latest in a series of digitally-focused innovations implemented by the national insurer group in recent months. Earlier this year, Farmers introduced a new roadside assistance tool that delivers a rideshare-like experience for customers waiting for a tow.

VUE Software recently announced that GAINSCO Inc., a property & casualty insurance holding company established in 1978, selected VUE’s Distribution Compensation Platform to administer complex commission and incentive programs. This implementation will enable GAINSCO to build flexible compensation programs, create multiple hierarchies per payee, create gamification profiles, retroactively make changes to plan, agent, or policy characteristics, input effective dates, and much more. “Our business challenge is managing multiple compensation hierarchies, bonus structures, and performance reporting. VUE Software’s Distribution Compensation platform will streamline our internal business processes, improve management of our sales channel, and enable financial growth,” Gainsco CIO Philip West said in a press release.

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