Who’s using what in P&C insurance: June 25, 2018

Property & casualty insurance industry tech and partnership news from VUE Software, Spex Technologies, American Modern Insurance Group and more.

According to the Insurance Information Institute, water is the biggest threat to a home.  Approximately one in 50 homes has a property damage claim caused by water damage each year, resulting in an average insurance claim of $8,000. American Modern and Notion aim to help homeowners monitor for leaks and other events to better manage risk via Notion’s smart home platform. (Photo: iStock)

Emerson Reid LLC, the wholesale employee benefits General Agent with a dozen offices nationwide, is implementing the VUE Distributor Accelerator Suite from VUE Software. The implementation will focus on consolidating several systems onto the single VUE platform for producer management, compensation, and revenue reconciliation functions.  Once implemented, Emerson Reid will have a more modern and efficient end-to-end commission processing solution.

Fourseventy Claims, the independent adjustment firm and third-party administrator, recently announced a new collaboration with Spex Technologies, an InsurTech platform provider that delivers claims processing, property inspections and reporting. The two companies began testing their combined solution during Hurricane Harvey and Hurricane Irma in 2017, and have since expanded the relationship to support a variety of carriers and deployments.

American Modern Insurance Group, Inc. will offer Notion, the home monitoring solution, to select policyholders as part of its smart home water sensor pilot program. The pilot program emphasizes the importance of monitoring for water leaks in real time to help reduce damage.

Sapiens International Corporation, the provider of software solutions for the insurance industry, has announced today that SUNZ Insurance (SUNZ) has gone live on CompSuite® Policy, a policy administration system that is designed specifically for workers’ compensation. SUNZ selected CompSuite to support rating and policy issuance for its Professional Employer Organization (PEO) program, which specializes in workers’ compensation.

Channel Oak General has launched a cyber liability program via Appulate, which offers independent insurance agents technology so that they can bridge data directly from their management systems to complete the rate/quote/bind process for a variety of P&C insurance products. By working with Appulate, Channel Oak will bring an automated program to the more than 30,000 independent agencies using Appulate nationwide.

See also:

Who’s using what in P&C insurance: June 18, 2018

Who’s using what in P&C insurance: June 11, 2018

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