Who’s using what in P&C insurance: July 9, 2018
Property & casualty insurance industry technology and partnership news from Accenture, CSI, RiskMatch and more.
The Institutes RiskBlock™ Alliance, a blockchain consortium for the risk management and insurance industry, announced today that Accenture will serve as the lead framework architect responsible for building a production-grade platform to develop and implement blockchain and distributed-ledger use cases. The platform will enable the RiskBlock Alliance to implement and test multiple use cases by the end of 2018. “Accenture has established itself as a leader in developing practical blockchain solutions across a number of industries,” Christopher G. McDaniel, president of The Institutes RiskBlock Alliance, said in a press release. “Partnering with Accenture to develop real-world blockchain applications will lead to better insurance solutions and chart a clear course for effectively implementing blockchain technology throughout the insurance industry.”
Minnesota-based Citizens Alliance Bank has selected Computer Services, Inc., a provider of end-to-end financial technology solutions, as its new core and digital banking technology vendor. Bank executives said three priorities drove the decision: Enhanced core processing infrastructure; finding a fully integrated solution; and both companies share a customer-centric focus.
Earlier this year, Baldwin Risk Partners announced that it selected RiskMatch, a subsidiary of Vertafore, for data and analytics. The broker plans to leverage digital technology to enhance client service, facilitate collaboration among its employees and drive transactional efficiency.
Wave Insurance Technologies, Inc., also known as AVYST™, recently partnered with the Independent Insurance Agents of North Carolina. AVYST is an Insuretch company that provides sales and risk management solutions to both agents and carriers in the independent insurance sector. As part of the partnership, IIANC members will receive a complimentary AVYST eForms Wizard license through Nov. 1, 2018… AVYST™ also recently announced that the International Risk Management Institute, Inc. Glossary of Terms is now integrated into its eForms Wizard.
HiRoad Assurance Company, a behavior-based car insurance company, has utilized EIS Group’s digital insurance platform as part of their solution for reinventing insurance to recognize and reward the good choices drivers make every day. HiRoad used the EIS insurance platform to introduce its innovative telematics-based auto product that rewards drivers every month based on driving behavior. With the ability to switch in just minutes and manage everything from an app, customers can save up to 50% every month based on how much and how well they drive.
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Who’s using what in P&C insurance: July 2, 2018