Who’s using what in P&C insurance: Oct. 8, 2018
October in the insurance technology sector means InsureTech Connect and the new partnerships announced during the popular Las Vegas summit.
Marsh, the global insurance broking and risk management company, has joined forces with Evident, a data security platform, to develop a blockchain-based verification solution for clients in the fast-growing sharing and gig economies. The new blockchain solution is intended to streamline the onboarding of gig economy workers by simplifying the insurance and identity verification process with added trust, safety, and risk management.
GROHE, the maker of sanitary fittings, and Hartford Steam Boiler (HSB), a multi-line specialty insurer and provider of inspection, risk management and IoT technology services, have announced they are forming the largest U.S. water management platform, launching in early 2019. “The partnership combines the holistic approach of the GROHE Sense system to leak detection and mitigation with HSB’s technical expertise, analytics, and IoT services capability to bring a turnkey solution to the market,” and Nancy Onken, executive vice president of the HSB Group said in a press release. “Together, we will look to help solve one of the leading loss issues facing homeowners and their insurers.”
Hippo Insurance™, the California-based insurtech company that intends to give the home insurance industry an overhaul by focusing on proactive insurance and delivering a positive customer experience, has forged several partnerships to help secure its goal. Among them: Hippo and Comcast teamed up earlier this year to bring Xfinity customers both added discounts and enhanced homeowners’ insurance. And, to help customers safeguard items inside their homes, Hippo recently partnered with Notion, a home monitoring solution powered by a multi-purpose IoT smart home sensor, along with zesty.ai, an Artificial Intelligence (AI) enabled risk analytics platform that tracks external factors that may impact an insured property.
Kaboodle, an insurance collaborative that delivers innovative products and services to insurers, and SPLICE Software, which specializes in using big and small data and voice technologies to drive customer engagement, announced their partnership at InsureTech Connect 2018. The two organizations are partnering to provide Kaboodle’s Collaborative with API-enabled Data-Driven Dialogs® for phone, SMS messaging, and Voice-First devices like Amazon Alexa and Google Home.
SPLICE Software also announced a strategic alliance with Insuresoft, a digital insurance platform provider for property and casualty insurers. “A growing number of Insuresoft’s clients are looking to us to help them build customized and unique user experiences for their policyholders, while also improving their bottom line,” Insuresoft President Terry Brown said in a press release. “By pre-integrating SPLICE into the Diamond Platform, we are excited to offer process improvements and time-saving measures to our clients who value digital engagement.”
Broker Buddha, a New York City-based software company, and Towerstone Inc., a Dallas-based commercial insurance wholesaler specializing in energy, construction, environmental, property and excess casualty, announced the release of a new quoting platform designed for carriers, wholesalers and MGAs. The new platform instantly replaces email communications with an online portal to help underwriters manage, track and prioritize submissions, as well as issue quotes and chat with independent agents about individual submissions in real time.
Click here for more coverage from InsureTech Connect 2018.
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