Who’s using what in P&C insurance: Aug. 27, 2018
Insurance industry partnership and tech news from Chubb, EY, Guy Carpenter & Co., ACT and more.
Duck Creek Technologies announced today that Chubb, the large, publicly traded property and casualty insurance company and a longtime Duck Creek customer, has signed an enterprise license agreement to make Duck Creek solutions available to all of Chubb’s business units worldwide. The expanded relationship with Duck Creek is one component of the insurer’s strategic focus on transforming itself to thrive in the digital age.
Guy Carpenter & Company, LLC, the global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, recently announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting LLP to license and develop proprietary applications to run within RPCC’s Tyche software. As part of the agreement, Guy Carpenter will have exclusive access to Tyche among all insurance and reinsurance brokers, as well as certain other parties in the industry.
Grange Insurance is the newest company partner of the Independent Insurance Agents & Brokers of America’s Agents Council for Technology (ACT). Grange offers affordable and customizable auto, home, life and business insurance products. Together with Integrity Insurance, its affiliate company, Grange sells exclusively through independent agents and serve customers across 13 states: Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin. “ACT welcomes Grange Insurance as a partner,” says Ron Berg, ACT executive director. “We look forward to working with the Grange team to tackle challenges like agent workflow and other issues that affect the independent agency system.”
The Institutes® RiskBlock Alliance, a blockchain consortium for the risk management and insurance industry, has announced that EY will serve as a primary service provider for blockchain-specific cybersecurity and risk management guidance. These services are part of the 30-member consortium’s efforts to implement and test multiple insurance use cases by the end of 2018. “We expect that the risk and controls guidance and cybersecurity testing services EY is developing will not just be critical to the success of the RiskBlock Alliance, but likely will help set the standard for industry-leading practices for blockchain enterprise,” said Christopher G. McDaniel, president of The Institutes RiskBlock Alliance. EY will collaborate with the RiskBlock Alliance to identify risks unique to its blockchain, identify leading practice controls, and provide blockchain-specific cybersecurity assessments and testing.
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Who’s using what in P&C insurance: Aug. 20, 2018