Who's using what in P&C insurance: May 7, 2018
Insurance industry partnership and technology news from QBE North America, NARS, Central Insurance Companies, Duck Creek Technologies, Ed, and more.
QBE North America has entered into a multi-year commercial use agreement with HyperScience, a machine learning, enterprise-grade artificial intelligence (AI) solution. The partnership aims to drive operational efficiency and unlock new data and insights for underwriting, pricing and claims.
NARS, a leader in third-party claims administration, has subscribed to BAP™ invoicing software from VIP Software, a national provider of integrated software solutions to the property and casualty (P&C) insurance industry. BAP automates invoice creation and payment through its integration with leading estimating software and billing systems, and delivers real-time, key performance indicators to provide NARS with data insight to scale its business.
Central Insurance Companies have adopted Valen Analytics’ InsureRight Platform for Workers’ Compensation; both the Predict and Manage applications of the platform. Predict provides underwriters with an analytics tool to make quicker and more informed decisions on risk selection and pricing. Manage provides advanced business intelligence capabilities including predictive indicators of overall performance, so that insurers can make forward-looking decisions on their portfolio and underwriting results.
Duck Creek Technologies has expanded its Partner Ecosystem program through a formal relationship with Perr&Knight, a leading provider of insurance consulting and software solutions to the property & casualty and accident & health industries. Perr&Knight helps its clients achieve their goals by providing actuarial and insurance operations consulting services along with software solutions that address operational challenges, increase efficiency and improve their competitive position.
Ed, the global reinsurance, wholesale and specialty broker, today announced it has signed a partnership with geospatial data enrichment and analytics firm SpatialKey. As part of the partnership, Ed will have access to SpatialKey’s advanced geospatial analytics technology. The software will allow Ed to better advise its clients on how to mitigate risk accumulations and improve financial performance.
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